The total cost for the yard stay and installation of a new BOP was below the budget of $42.5 million. In accordance with the contract, Awilco considers that the rig is on standby rate from the completion of the yard stay.
However, the client Apache North Sea does not agree that the rig is ready to drill or that the standby rate applies at this point.
WilPhoenix is one of Awilco’s two enhanced pacesetter semisubs, equipped for drilling in water depths up to 1,200 ft (366 m).
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