Dolphin AS, a subsidiary of Fred. Olsen Energy ASA, has entered into a Letter of Award with Lundin Norway AS for a 2 wells drilling contract for the semi submersible drilling rig Bredford Dolphin for operation on the Norwegian continental shelf with estimated commencement in January/February 2011.
The contract value is approximately USD 40 million for an estimated drilling program of 120 days. Lundin have the option to extend the contract period with two additional wells within 1st of December 2010.
Source: FredOlsenEnergyASA,September 24, 2010,