(Oslo, 15 March 2024) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today announces the award of a USD 154 million drilling contract from Oil India Limited (Oil India), one of India's premier exploration and production companies.
Reference is made to the announcement 19 October 2023 regarding the Letter of Award with Oil India. Under the terms of the final agreement, Dolphin Drilling will deploy the Blackford Dolphin semisubmersible drilling rig to support Oil India's exploration and development activities with operations planned to commence in the second half of 2024.
"We are delighted to have been selected by Oil India Ltd for this important drilling contract. This partnership is a testament to our track record of operational excellence, safety, and reliability. We look forward to leveraging our expertise to support Oil India's objectives and contribute to the success of their projects," says Bjørnar Iversen, CEO of Dolphin Drilling.
The contract duration spans a firm three wells drilling campaign over 14 months representing a firm value of USD 154 million for the rig and associated services, plus an optional period for seven months.
For further information, please contact: Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320
Dolphin Drilling | www.dolphindrilling.com
Dolphin Drilling is a leading harsh environment drilling contractor for the offshore oil and gas industry. Dolphin Drilling owns a fleet of four high technical standard 4th and 5th generation enhanced Aker H3 and H4 units, Borgland Dolphin, Blackford Dolphin, Paul B. Loyd, Jr. and Dolphin Leader operated by an experienced team with a strong operational track record. The company has offshore and onshore offices and operations in Norway, Scotland, Brazil, and Nigeria.