‘Borgsten Dolphin’ stays with Total until 2018

  • Exploration & Production

Dolphin Drilling Ltd, a subsidiary of Fred. Olsen Energy, has entered into a contract amendment for the provision of the Tender Support Vessel Borgsten Dolphin with Total E&P UK Ltd.

The company has said that the amendment covers a revised contract period starting October 1, 2015 and continuing to January 31, 2018, subject to certain early termination rights from end 2016.

Contract terms prior to October 1, 2015 remain in accordance with the previously reported Total agreement.

The estimated contract value for the revised period from October 1, 2015 to January 1, 2018 is approximately $141 million.

Borgsten Dolphin, formerly a semi-submersible drilling rig, was in 2012 upgraded and converted to tender support vessel.

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