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.
