NEW CONTRACT FOR BORGHOLM DOLPHIN

Tue, Apr 05, 2005 15:56 CET

Dolphin Drilling Ltd., a subsidiary of Fred. Olsen Energy
ASA, has received a Letter of Intent from Shell U.K. Ltd.
for an accommodation support contract in the UK sector of
the North Sea for the accommodation rig Borgholm Dolphin.
The programme is scheduled to commence in July 2005 with an
estimated duration of 6 months. Estimated contract value is
USD 22.5 million. Borgholm Dolphin is presently located at
the Harland & Wolff yard in Belfast.