Awilco Drilling to initiate cost cutting measures

Norwegian drilling contractor Awilco Drilling has announced that it has decided to initiate a wide range of cost cutting measures.

Awilco says the measures come in light of the termination of newbuild semi-submersible Nordic Winter, which it terminated with Keppel FELS in June, and the significant delay in the construction and anticipated start-up of operations of its other newbuild rig from Keppel, Nordic Spring.

“Based on this situation Awilco Drilling Norge AS has decided to initiate a wide range of cost reducing measures. Further information will be provided in due course,” the company stated.

Awilco Drilling currently owns a fleet of two semi-submersible drilling units.

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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