Dwellop's Board Approves WOR Contract
February 13, 2018 at 02:00 am EST
The board of directors in Dwellop has approved a contract for one work-over rig (WOR) with an undisclosed client in Asia.
The scope of work is similar with Dwellop's latest WOR delivered, however the contracted WOR shall comply with "NORSOK" requirements and include a Hunter Crane. In addition, Dwellop will be responsible for delivery of the cement unit. The contract is subject to certain closing conditions, primarily that the yard needs to conclude on a contract with its client. If a firm contract between the yard and its client is not signed, Dwellop's contract will be cancelled. Hunter Group is about to secure a project financing facility for the
construction process. The construction period is estimated to 18 months.