Dolphin Drilling, an Oslo-listed company based in Aberdeen and operator of a fleet of semi-submersible drilling rigs in medium water and rough deep water, has won a potential long-term position with an undisclosed oil and gas operator for one of its semi-submersible rigs.
Dolphin Drilling has signed a letter of intent (LoI). Borgland Dolphin Dealing with an unnamed company. The potential contract, which is expected to be worth approximately $230 million, is scheduled to begin in the second half of 2027.
This will be a direct continuation after the platform is released from its current contract Repsol. The fixed term continues until the end of the current Special Period Survey (SPS) for the device in October 2031, including mobilization and demobilization, with options expected for a further five years.
According to Dolphin Drilling, the two parties intend to continue negotiating the contract in accordance with the letter of intent, which includes a termination fee of up to $3.8 million in favor of the company and is subject to the agreement and approvals of the relevant management.
Weighing 18,000 tons, 109 meters long and 67 meters wide supported by 12 sturdy columns, the Borgland Dolphin platform was built in 1977 by Harland & Wolff.
The semi-submersible received major upgrades in 1998/1999. With a maximum drilling depth of 27,800 feet, the platform can conduct operations in water depths of up to 1,476 feet.
This letter of intent comes days after Dolphin Drilling I signed a letter of intent For a potential new contract for Paul P. Lloyd Jr manipulation.
Boost your brand with marine energy ⤵️
Steal the spotlight and establish your brand in the heart of the outside world!
Join us to make a greater impact and grow your presence at the core of the marine energy community!
