Dolphin Drilling's Blackford Dolphin Commences Long-Term Contract with Oil India Limited
(Oslo, 11 November 2024) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) announced today that its deepwater capable semisubmersible rig, Blackford Dolphin, has commenced its long-term exploration drilling contract with Oil India Limited offshore India. The rig arrived in Indian waters in October and has since completed customs clearance and client acceptance.
Following the commencement Dolphin Drilling will be positioned to demonstrate material improvement to its revenue generation capabilities, with the company now operating two semisubmersible rigs on long-term contracts. Alongside Blackford Dolphin, the Paul B. Loyd, Jr. rig is currently on a firm contract with Harbour Energy in the UK sector until February 2028.
Bjørnar Iversen, CEO of Dolphin Drilling, commented: "We are excited to announce the start of Blackford Dolphin's operations in India. This contract not only signifies our return to the Indian market but also demonstrates our ability to secure long-term, profitable contracts in key growth markets."
Dolphin Drilling has prior experience operating in Indian waters and has reinforced its local presence through a strategic partnership with Dynamic Drilling, a well-established Indian offshore drilling contractor.
"Blackford Dolphin has once again returned to India to commence a long-term drilling campaign, and our ambition is that the rig will stay in the region for the long term, not only due to the contract’s option period but also in line with India’s ambitious energy goals. This aligns well with India's rapidly growing energy needs as the country aims to significantly increase its domestic production of hydrocarbons, reducing its dependency on imported energy and enhancing its energy security", Iversen added.
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 high-technical standard 4th and 5th generation enhanced Aker H3 and H4 units, Blackford Dolphin, Borgland Dolphin, and Paul B. Loyd, Jr., operated by an experienced team with a strong operational track record. The company has offshore and onshore offices and operations in Norway, Scotland, India and Brazil.