Reference is made to the stock exchange release of 8 June 2020 from Awilco
Drilling PLC ("Awilco Drilling") regarding the termination of the newbuilding
contract between Awilco Rig 1 Pte. Ltd. ("AR1") and Keppel FELS Limited
("KFELS") for the construction of a semi-submersible drilling rig, hull number
B379, as a result of breaches under the Vessel Construction Contract.
Today, the Company has received the arbitration tribunal ruling which has
awarded in favour of KFELS.
AR1 is disappointed with the Tribunal's decision and is currently reviewing the
award to establish if grounds exist for appeal and, if so the merits of such an
appeal. We will revert with further information as soon as the detailed review
of the arbitration award has been completed.
Aberdeen, 21 April 2023
For further information please contact:
Eric Jacobs, CEO of Awilco Drilling PLC
Phone: +47 9529 2271
Cathrine Haavind, Investor Relations of Awilco Drilling PLC
Phone: +47 9342 8464
Email: ch@awilcodrilling.com
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.