CONTRACT TERMINATED FOR BOLETTE DOLPHIN

July 05, 2017

Dolphin Drilling Ltd, a subsidiary of Fred. Olsen Energy ASA, has received a termination for convenience notice from Anadarko Petroleum Corporation for the contract for the drilling unit Bolette Dolphin. The termination will be effective at end August 2017. The termination fee will be approximately USD 96 million as per contract. Built by Hyundai at Ulsan shipyard in South Korea in 2014, Bolette Dolphin is a Gusto MSC P10000 ultra-deepwater drillship. Upon delivery the drillship mobilized to West Africa to commence operations for Anadarko. After the completion a drilling campaign offshore Colombia the Bolette Dolphin was back to West Africa for the same client, Anadarko. (Source and image: Dolphin Drilling)