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Fred Olsen Energy ASA's Subsidiary Enters into Letter of Award with Statoil


Wednesday, 3 Oct 2012 02:30am EDT 

Fred Olsen Energy ASA announced that its subsidiary Dolphin Drilling AS has entered into a Letter of Award with Statoil for a three-year extension of the current drilling contract for the semi submersible drilling rig Bideford Dolphin for operation on the Norwegian continental shelf. The extension will be in direct continuation of current drilling contract. The estimated value for the fixed extension period is approximately USD 520 million. An option exists for a further two years contract extension. 

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