Alwilco drilling rig contract status

Awilco Drilling said Thursday that an arbitration tribunal had ruled in its favor in its second case against Singapore-based Keppel FELS over a rig contract termination. It lost the first in April 2023. Awilco Drilling in 2018 ordered a harsh environment semi-submersible drilling rig from Keppel FELS. [pdf]

FAQS about Alwilco drilling rig contract status

What happened between seatrium New Energy Limited and Awilco Rig 2?

Subsequently, an arbitration award was received in November 2023 for another arbitration between Seatrium New Energy Limited and Awilco Rig 2 Pte. Ltd. (“AR2”), a sister company of AR1, in respect of the contract executed in March 2019 for the construction of a repeat midwater semisubmersible drilling rig, B382.

When did Keppel FELS vs Awilco arbitrate?

In April 2023, the Court of Arbitration ruled in favor of Keppel FELS in the Nordic Spring arbitration on the basis of relevant evidence submitted by Keppel FELS and Awilco’s subsidiary Awilco Rig 1 (AR1), while in November the Court of Arbitration ruled in favor of Awilco’s subsidiary Awilco Rig 2 (AR2) in the Nordic Winter arbitration.

Does Awilco have a financial impact on seatrium new energy?

The US$57 million settlement will flow directly from Rigco to AR2. Hence, there is no financial impact nor working capital exposure to Seatrium New Energy or the Group. Awilco is said to have emptied its drilling fleet in June 2022 following the sale of its rigs.

What happened to Awilco & seatrium?

Awilco is said to have emptied its drilling fleet in June 2022 following the sale of its rigs. In contrast, Seatrium has already bagged a number of offshore contracts for floating production, storage and offloading (FPSO) units, semi-submersible FPUs, and a number of repair and conversion agreements.

Moonpool drilling rig

A moon pool is an equipment deployment and retrieval feature used by , , , , and or , and. . The Hughes was a 50,500 long tons (51,300 t), 619-foot-long (189 m) ship constructed by the United States in the early 1970s for the from the Pacific seabed. The desig. . Very deep moon pools are used in —submerged chambers used by divers engaged in underwater research, , , and . In this case, shown in part D of. . Moon pools are becoming increasingly used on to allow for hauling of the gear in worse weather conditions. They also reduce the exposure of fish to air, improving quality. Along with bird scarin. [pdf]

Drilling rig traveling block

This block is a set of sheaves (pulleys) that move up and down in the derrick. The drilling line is threaded (reeved) over the sheaves on the crown and through the sheaves in the traveling block. This provides a significant mechanical advantage to the drill line, enabling it to lift heavy loads of pipe and casing. The. . The size of the groove should be the same as the diameter of the drilling line to deliver the proper support. A tiny pulley groove could cause high friction. Furthermore, it can cause. . Periodic inspections: The Rig Traveling Block, as with all Hoisting equipment, must be inspected according to the manufacturer’s recommendations and API RP 8B or related ISO (International. [pdf]