NEW DRILLING CONTRACT FOR BREDFORD DOLPHIN IN NORWAY
Dolphin AS, a subsidiary of Fred. Olsen EnergyASA, has received a Letter of Award fromDrilling Production Technology as, a companywithin the AGR Group, on behalf of themselvesand a consortium of licensees on the Norwegiancontinental shelf for a three year drillingcontract for the semi submersible drilling rigBredford Dolphin. The estimated contract valueis approximately USD 392 million. The award issubject to final contract. Commencement isestimated to 2nd half 2006 following compulsoryclass renewal survey and upgrade of the rig inaccordance with Norwegian