Dolphin Drilling has said it is to work with four oil firms off Norway under a new £155million contract for its Bredford Dolphin semi-submersible drilling rig.
The firm, a subsidiary of Fred Olsen Energy, has entered into a “letter of award” for use of a rig for an eight-well drilling campaign, expected to last about 570 days, which could be extended by an additional four wells.
The contract has been arranged with service firm AGR and follows a similar deal Dolphin Drilling agreed with another consortium of four oil companies for use of another semi-submersible, the Borgland Dolphin.
That letter of award was for a 15-well drilling contract lasting about three years and valued at about £354million.
The number of rigs and rig availability off Norway has recently become an issue for the industry following an increase in drilling activity at the same time as a reduction in the number of rigs in the market.
Part state-owned oil firm Statoil has gone so far as to order its own rigs.
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