UK: BP Hires Byford Dolphin Rig for USD 378 Million

Fred. Olsen Energy ASA’s subsidiary Dolphin Drilling Ltd. has entered into a 3-year contract with UKsBP for the use of the semi-submersible drilling rig Byford Dolphin for drilling operations in the UK North Sea.

The new contract will start in direct continuation with the current contract. The estimated contract value is USD 378 million. Also, BP has an option for a three-year contract extension.

The rig will undertake an early class renewal survey early 2014, including installment of a new BOP. The investment in a new five ram BOP, including commissioning and new control system, is estimated to USD 40 million.

Byford Dolphin rig, of Aker H-3 design, was built by Aker Group at the Aker Verdal shipyard in 1974.

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Offshore Energy Today Staff, June 8, 2012