NEW DRILLING CONTRACT FOR BIDEFORD DOLPHIN
Dolphin Drilling AS, a subsidiary of Fred. Olsen Energy ASA, has entered
into a Letter of Award with Statoil for an 3 years 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.