Awilco Drilling PLC

Awilco Drilling PLC: Nordic Winter - Termination of Vessel Construction Contract

Awilco Rig 1 Pte. Ltd. ("AR1"), a wholly owned subsidiary of Awilco Drilling PLC

("Awilco Drilling"), has notified Keppel FELS Limited ("KFELS") that it has

exercised its contractual termination right under a newbuilding contract between

KFELS and AR1 for the construction of a semi-submersible drilling rig, Nordic

Winter, as a result of breaches under the Vessel Construction Contract.

The vessel construction contract provides that on termination AR1 will be

entitled to a refund of the instalments paid to KFELS of USD 54,720,985 plus

accrued interest.

Nordic Winter is one of the two semi-submersible drilling rigs of Moss Maritime

CS60 Eco MW design ordered by Awilco Drilling subsidiaries from KFELS. In

addition, separate Awilco Drilling subsidiaries have rig independent options for

two additional rigs of the same design.

Aberdeen, 8 June 2020

For further information please contact:

Jens Berge, CEO

Phone: +44 1224 737900

Cathrine Haavind, Investor Relations

Phone: +47 9342 8464

(https://www.globenewswire.com/Tracker?data=r2z2bn9iCxMV0chSJBb3rnF2hmgqzPAzCTaD

iq1i4sGJeZ5z-OhyUI-3B2Eu3LzRACtyG2mDF0pQvHhxLAA4zMnwEHSNPSA8w8b0Ya2sSnk=)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

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