Chevron awards UK contract to Dolphin Drilling

Chevron North Sea Ltd.

Dolphin Drilling Ltd., a subsidiary of Fred. Olsen Energy ASA, has contracted the semisubmersible Blackford Dolphin for a minimum period of 572 days with Chevron North Sea Ltd. for work in the UK sector of the North Sea.

The contract is scheduled to begin in the second quarter of 2015 in direct continuation from previously announced contracts with the Blackford Dolphin. The estimated contract value is $255 million, including rig upgrades of $11 million. Chevron has an option to extend the drilling program for an additional one year to two years.

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