Dolphin Drilling approved as official rig supplier for future Petrobras rig tenders

(Oslo, November 2 2022) Dolphin Drilling AS today announces that it has been re-approved as an official rig supplier and will be invited to take part in Petrobras upcoming rig tenders.

“We are pleased with our re-approvement. Brazil currently represents 20 percent of the world’s offshore drilling demand. Being in position to provide drilling services offshore Brazil, reflects the competitiveness of Dolphin Drilling and our offshore operations,” says Bjørnar Iversen, CEO of Dolphin Drilling.

At one time, Dolphin Drilling operated multiple rigs in Brazil, including drilling for Petrobras, the dominant E&P company in the country. The company has now been re-established as a pre-qualified driller to Petrobras, as documented by its extensive experience in offshore drilling, deepwater, and shallow water.

Brazil is the number one country in terms of offshore deepwater oil production and floater rig drilling demand, and the country represents 20 percent of the worldwide offshore drilling demand.

“Dolphin Drilling has experience operating rigs in most offshore basins around the world. In line with our new strategy, we are prioritising marketing rig operations in Africa, the Americas, and the North Sea. We have the operational licenses and drilling management systems in place to operate all types of drilling assets,” Bjørnar Iversen concludes.

Dolphin Drilling today owns three harsh environment moored semisubmersibles which have been rebuilt with 5th/6th generation topsides. The company is well-positioned to secure additional contracts at attractive levels, benefitting from current market improvements and an attractive positioning in the niche moored semisubmersible market. In addition, the opportunity to acquire and/or manage two latest generation harsh environment semisubmersibles as well as to manage and operate non-owned rigs provide attractive additional growth opportunities.

For further information, please contact:

Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320

Steen Damgaard, Chief Commercial Officer, tel: + 44 7834 734868

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 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 offshore and onshore employees, and onshore locations in Norway, Scotland, Brazil, Nigeria, and Mexico.

Dolphin Drilling is listed on Euronext Growth Oslo under the ticker “DDRIL”.

The company has no interest-bearing debt and targets to maximize shareholder returns including the use of frequent cash dividends.