Dolphin Drilling – contract award for Borgland Dolphin in the UK

(Oslo, 28 November 2023) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today announces the award of a contract for Borgland Dolphin by EnQuest PLC (EnQuest) in the UK.

The contract includes a firm 137-day drilling programme and includes a contribution for the reactivation of the Borgland Dolphin, with EnQuest having a further option, to be confirmed within 90 days of contract signing, to extend for a significant additional work scope as part of a strategic alliance over a 5-year period. Within this 5-year period, Dolphin Drilling would have schedule flexibility. As such, this contract enables Dolphin Drilling to strategically position the Borgland Dolphin in the North Sea, where extensive, multi-year production and development well drilling and well plug and abandonment campaigns are expected to be undertaken. Dolphin Drilling is working collaboratively with potential clients to establish flexible contracts that allow such work to be planned and executed clusters in a safe, efficient, and cost-effective manner. 

“We are pleased to announce this contract award with EnQuest for the semisubmersible rig Borgland Dolphin. This flexible contract showcases our strategy within semisubmersible moored drilling operations and underlines the value creation potential for our rig acquisitions earlier this year. Dolphin Drilling’s fleet of well-maintained and efficient rigs should serve to be attractive for our clients in the UK in order to deliver much-needed energy supply,” says Bjørnar Iversen, Chief Executive Officer at Dolphin Drilling.

ENDS

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 three higher technical standard 4th and 5th generation enhanced Aker H3 units, Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced team with a strong operational track record. The company has offshore and onshore employees, and onshore locations in Norway, Scotland, Brazil, and Nigeria.