Awilco stacks two North Sea rigs, sees market upturn

March 2, 2022
Company says forecast rig activity levels in the UK mid-water drilling market from 2023 onwards will be higher than those expected in 2022.

Offshore staff

WESTHILL, UK – Awilco Drilling has cold-stacked its semisubmersible WilHunter in the port of Invergordon, northeast Scotland, and is examining recycling options.

The company’s other semisubmersible, Wilphoenix, is presently warm-stacked at the same facility after completing operations late last year on the Fotla discovery well in the UK North Sea for Ithaca Energy.

Awilco is tendering the rig for two programs due to start later this year and 2023, and also anticipates tenders for two P&A programs for around four years of work, starting in Q1/Q2 2023.

The company says forecast rig activity levels in the UK mid-water drilling segment from 2023 onwards are significantly higher than those expected in 2022, with higher levels of rig fleet utilization and improving day rates as the global drilling market continues its recovery.

3/1/2022