Fred Olsen lands new drilling contract for Borgsten Dolphin semisub

Source: Fred Olsen

Dolphin Drilling Ltd, a subsidiary of Fred. Olsen Energy ASA (OSE:FOE), has entered into a Letter of Award for the provision of the semisubmersible Borgsten Dolphin with an undisclosed client for a four well drilling program with an approximately six month duration and commencement early April 2011. 

The contract includes one option well with an expected duration of 45 days. The estimated contract value for the firm period is approximately $43.5 million. 

Capable to drill in waters up to 1,500 feet deep, the Borgsten Dolphin can drill to a depth of 20,000 feet.

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