Awilco Drilling PLC

Awilco Drilling PLC: Contract signed with KeppelFELS for the building of new semi submersible drilling rig

Reference is made to the stock exchange releases by Awilco Drilling PLC ("the

Company") on 27 and 28 February 2018 regarding the successfully completed

private placement. The Company is pleased to announce that its fully owned

subsidiary Awilco Rig 1 Pte. Ltd. on 9 March 2018, signed a contract with

KeppelFELS shipyard in Singapore for the building of one new CS60 ECO MW

semisubmersible drilling rig. The rig is designed for harsh environment use, and

will be equipped and certified for drilling on the Norwegian Continental Shelf,

including in the Barents Sea, in water depths up to 5000ft.

The cost for the rig delivered from the yard in Singapore is approximately USD

425 million. Delivery is planned for late Q1 2021. In connection with entering

into the contract for such newbuilding, the Company has also negotiated options

to build up to three additional rigs of similar design, such options to be

independent of each other.

In addition to the newbuilding contract announced above, Awilco Drilling PLC

owns and operates the two Enhanced Pacesetter semi-submersibles WilPhoenix and

WilHunter, equipped for drilling in water depths up to 1,200 ft and 1500 ft

respectively.

Aberdeen, 11 March 2018

For further information please contact:

Jon Oliver Bryce, CEO

Phone: +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 93 42 84 64

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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