Awilco Drilling PLC: Ruling of the second arbitration case

Source: www.gulfoilandgas.com 11/23/2023, Location: Europe

Reference is made to the Half-Year Report 2023 and the stock exchange release of 14 March 2023 from Awilco Drilling PLC (“Awilco Drilling”) regarding the termination of the newbuilding contract between Awilco Rig 2 Pte. Ltd. (“AR2”) and Keppel FELS Limited (“KFELS”) for the construction of a semi-submersible drilling rig, hull number B382.

Today, the Company has received the arbitration tribunal ruling which is in AR2’s favour in an amount of USD 43.0 million plus interest and legal costs. The tribunal will issue a further award related to interest and costs. We will revert with further information including any notice of appeal received as appropriate.


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