Dolphin Secures Cash for Drillship Under Construction (Norway)

Dolphin Secures Cash for Drillship Under Construction (Norway)

Dolphin International AS, a subsidiary of Fred. Olsen Energy ASA, has signed a new five year bank credit facility of up to USD 1.500 million. The credit facility will be used to prepay existing bank loans, full-finance the newbuild Bolette Dolphin, under construction at Hyundai Heavy Industries’ shipyard in South Korea, and for general corporate purposes.

The facility is provided by 12 international banks and GIEK/Eksportfinans.

The new ultra-deepwater drillship is scheduled for delivery in 3rd quarter 2013. Total project cost is estimated to USD 650 million (including spare parts, owner furnished equipment and project team).

The drillship, Gusto P10000 type, will be designed for water depth capacity up to 12,000 feet, have a seven ram BOP (Blow Out Preventer), dual activity capability, five mud pumps, a 165 ton capacity heave compensated crane, a maximum hook-load capacity of 1,250 tons and an accommodation module housing up to 210 people.

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World Maritime News Staff, June 8, 2012; Image: Dolphin