Fred Olsen Wins Contract for Belford Dolphin and Newbuild Drillship

Dolphin Drilling's Belford Dolphin drillship. Photo: Dolphin Drilling

Fred Olsen Energy’s drilling unit, Dolphin Drilling, says it has entered into contracts with Anadarko Petroleum Corporation (APC) for the provision of the drillship Belford Dolphin and the comany’s newbuild ultra-deepwater drillship currently under construction at Hyundai Heavy Industries (HHI).  The contracts are each for four years and are expected to be in support of Anadarko’s future long term drilling offshore Mozambique.

The Belford Dolphin contract will commence January 1st 2012 and in direct continuation of its existing contract with APC which had previously been scheduled to continue to April 2013. The value for the Belford Dolphin contract is approximately $701 million.

The four year term of the newbuild drillship contract is expected to begin in the fourth quarter 2013 following deliver of the newbuild by HHI and mobilization to Mozambique. The newbuild drillship contract value is approximately $727 million including mobilization.

Fred Olsen’s new DP drillship will be capable of operating in water depths of up to 12,000 feet, have a seven ram BOP (Blow Out Preventer), dual activity capability, five mud pumps, a 165 ton capacity heave compensated crane, a maximum hook-load capacity of 1,250 tons and an accommodation module housing for up to 210 people.

Fred Olsen’s construction contract with HHI includes the option for a second drillship, which is set expire on December 20, 2011.

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