Blackford Dolphin Contract Confirmed in Nigeria
Stavanger, 4 October 2022 Dolphin Drilling AS (Dolphin Drilling, N-OTC:DDRIL) today announces the award of the 12-month contract for Blackford Dolphin by General Hydrocarbons Limited (GHL) in Nigeria. The contract has a total value of approximately USD 96 million.
“We are proud to announce the final award of the Blackford Dolphin contract, proving our position in the niche moored semisubmersible market. Dolphin Drilling has attractive assets, a strong team and a solid platform to leverage on the favourable market development with improved rates. The contract for Blackford Dolphin underlines the potential of the company and its assets, and we believe Dolphin Drilling will capitalize on the continued expected tight rig market for the rest of the fleet,” says Bjørnar Iversen, Chief Executive Officer at Dolphin Drilling.
Reference is made to the announcement from Dolphin Drilling 1 September 2022, regarding a letter of award (LoA) for Blackford Dolphin in Nigeria. The company today announces the formal contract award, where the rig will commence 12-months operations during the fourth quarter of 2022 with a total contract value of approximately USD 96 million. GHL has the right to shorten the contract with up to 6 months.
Having recently completed work in the Gulf of Mexico for PEMEX, the Blackford Dolphin will mobilize to Las Palmas for its special periodic survey prior to commencing operations in Nigeria.
Dolphin Drilling was recently listed on the Euronext N-OTC list, and expects the company to be listed on Euronext Growth in late October.
ENDS
For further information, please contact:
Ingolf Gillesdal email: ingolf.gillesdal@dolphindrilling.com
Dolphin Drilling is a leading harsh environment drilling contractor for the offshore oil and gas industry. Dolphin Drilling owns a fleet of three high-technical standard 4th and 5th generation enhanced Aker H3 units, Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced team with strong operational track record. The company has approximately 260 employees at operational bases in Aberdeen, Scotland, Stavanger, Norway, in addition to offshore personnel, and targets a listing on Euronext Growth medio October 2022. (N-OTC:DDRIL)