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Fred. Olsen Energy subsidiary Dolphin Drilling AS has, subject to final approvals, entered a letter of award valued at US $252 million for its semisubmersible drilling rig Bredford Dolphin to be used by an AGR-coordinated group of four unnamed oil companies for operations on the Norwegian Continental Shelf.
The contract is for an eight well drilling campaign and is expected to take up to 570 days, with the program to start in direct continuation of its current contract.
The operators have the right to extend the contract period with four additional wells by June 30.
Subject to execution of the first four optional wells, the operators have the right to extend the contract with a minimum of five additional wells within contract commencement.
The estimated contract value of $252 million is for the firm period only.