Awilco heading to Keppel for new semi-submersible order

Awilco heading to Keppel for new semi-submersible order

Norwegian offshore driller Awilco Drilling is raising $65m via a private placement to be used to part finance an order at Singapore’s KeppelFELS for a newbuild semi-submersible drilling rig.

Awilco has signed a letter of intent with Keppel for the rig, valued at around $425m, with delivery expected in 2021.

Three additional options are also included in the deal.

Awilco says that it has received commitments from existing shareholders amounting to around $40m plus an additional $10m from Akastor.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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