CONTRACT EXTENSION FOR BORGNY DOLPHIN
Dolphin Drilling Ltd. and Dolphin Drilling Brazil, subsidiaries of Fred.
Olsen Energy ASA, have finalised an approximate one year contract
extension with Petrobras for continued use of the semi-submersible
drilling rig Borgny Dolphin. The extension will follow in direct
continuation with the current contract and provide ongoing employment
for the Borgny Dolphin to end September 2014. The estimated contract
value is USD 90 million.