Petrofac puts Awilco rig on standby rate

Petrofac has postponed the beginning of the plug & abandonment program on Rubie and Renee fields in the UK North Sea. As a result, Awilco Drilling’s rig, hired for the campaign, has been put on standby rate.

Awilco signed a letter of intent with Petrofac for the provision of WilPhoenix rig in support of a three-well plug & abandonment program in late January 2020.

Awilco and Petrofac firmed up the contract in early March.

In an update on Monday, Awilco said that the two companies had agreed to delay the beginning of the program on Rubie and Renee until 25 May 2020.

The WilPhoenix will be on standby rate for the period of the delay, Awilco added.

The program has an estimated duration of 100 days. The contract value is estimated at $13.8 million.

WilPhoenix is one of Awilco Drilling’s two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Awilco Drilling also has two newbuild rigs on the order of Moss CS60 ECO MW design equipped for drilling in harsh environments and independent options for an additional two rigs of the same design.