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Dolphin Drilling AS, a subsidiary of Fred. Olsen Energy ASA, has entered a letter of award (LOA) with a Rig Management Norway AS consortium consisting of four oil companies.
The LOA is for a 15-well drilling contract with an estimated duration of three years for the semi-submersible drilling rig Borgland Dolphin, according to a news release. The estimated contract value for the period is approximately US $575 million and commencement will be in direct continuation with the current contract.
In connection with the Class Renewal Survey in 2014, contract specific upgrades will be carried out to an estimated cost of US $10 million.