- CEO
- Eric D. Jacobs
- Full Time Employees
- 4
- Sector
- Energy
- Industry
- Oil & Gas Drilling
- Address
- 2 Kingshill Park Westhill GL United Kingdom AB32 6FL
- IPO Date
- Feb 14, 2013
- Business
- Awilco Drilling PLC Awilco Drilling PLC operates as an offshore drilling contractor specializing in harsh-environment semi-submersible rigs for the oil and gas sector, primarily serving the North Sea with capabilities extending to global markets including the Mediterranean and Southeast Asia. The company provides comprehensive drilling services encompassing well construction, workover operations, plug and abandonment, and maintenance, utilizing its fleet of third-generation harsh-environment semi-submersible rigs such as WilPhoenix and WilHunter; it emphasizes safe, efficient execution under stringent safety and environmental standards for exploration, development, and production clients like Serica Energy and Ithaca Energy. Founded in 2009 and headquartered in London with operational bases in Aberdeen, Scotland, Awilco Drilling PLC maintains management agreements with Awilco AS for technical and commercial support while focusing on high rig utilization and lucrative contracts. In recent developments, the company settled arbitration disputes with Keppel FELS (now Seatrium New Energy Limited) in 2024, receiving a USD 57 million payment that contributed to a half-year net profit of USD 64.8 million and a cash balance of USD 57.4 million as of June 2024; it also initiated a share capital reduction process to enable capital distributions, paid a special dividend of USD 2.06 per share in April 2025, and ceased operational drilling activities following rig sales in 2022 to pursue arbitration resolutions and financial optimization.