0Q2K Awilco Drilling Plc

 
TIDMAWDR 
 
   Awilco Rig 2 Pte. Ltd. ("AR2"), a wholly owned subsidiary of Awilco 
Drilling PLC ("Awilco Drilling"), has notified Keppel FELS Limited 
("KFELS") that it has exercised its contractual termination right under 
the newbuilding contract between KFELS and AR2 for the construction of a 
semi-submersible drilling rig, Nordic Spring, as a result of breaches 
under the Vessel Construction Contract. At the same time, AR2 has also 
exercised its contractual rights under the contract and given KFELS 
notice of termination as a result of Force Majeure. 
 
   The vessel construction contract provides that on termination AR2 will 
be entitled to a refund of the instalments paid to KFELS of USD 43.0 
million plus accrued interest. 
 
   Nordic Spring is one of the two semi-submersible drilling rigs of Moss 
Maritime CS60 Eco MW design ordered by Awilco Drilling subsidiaries from 
KFELS, which both now have been terminated. In addition, a separate 
Awilco Drilling subsidiary has an option for one further rig of the same 
design. 
 
   Aberdeen, 28 December 2020 
 
   For further information please contact: 
 
   Jens Berge, CEO 
 
   Phone: +44 1224 737900 
 
   Cathrine Haavind, Investor Relations 
 
   Phone: +47 9342 8464 
 
   Email: ch@awilcodrilling.com 
https://www.globenewswire.com/Tracker?data=a53OyJLNUqC3-CZF5-FITKT_88t_0oCq26XJneCPTWrfwJgDRG_1m6njD1Hj7K6AjvKHEiyv9LUzphw_gvJ2ycZnrL6F07p1SiCAxsDDCOxNQp8fc6Scpe94Co8WHnDNhSvLDkKLaPtsjTgBdQ1NKXcfTZ-EUjG88H3_GDVoNlFYhlAPtIgmFygOuzjl2bcz5XaPKtMQdS31BdiHqz7wulWdk9HWu4B6N4cX5xI53jt4APlIFoyU6U0iQqWDl4dGsupVf0ou7oY0i9IUEiVAhQ== 
 
 
   This information is subject to the disclosure requirements pursuant to 
Section 5-12 the Norwegian Securities Trading Act. 
 
 
 
 

(END) Dow Jones Newswires

December 28, 2020 12:36 ET (17:36 GMT)

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