Still under construction at Hyundai Heavy Industries, the semi-submersible drilling rig which will eventually be named the Bollsta Dolphin, has just been awarded a $1.064 billion, 5-year contract by Chevron. The rig is scheduled to operate in the UK North Sea at a day rate of $560,000 following it’s delivery from HHI near the end of Q1 2015.
Owned by Dolphin Drilling, a subsidiary of Fred. Olsen Energy ASA, the Bollsta Dolphin newbuild is a Moss Maritime CS 60 E design and is capable of operating in harsh environments in water depths up to 10,000 feet.
The contract includes a mobilization fee of USD $42 million. In connection with the newbuild contract, an estimated USD $40 million will be invested in a second BOP and additional riser.
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Exxon Mobil Corp. and Chevron Corp. posted stronger-than-expected earnings for the first quarter as higher oil and natural gas prices outweighed production outages from the Iran war.
The U.S. issued a waiver on Wednesday broadly authorizing U.S. companies to do business with Venezuela's state-run oil company PDVSA, a key step that could secure investment and, in thelonger-term, increase the country's crude production capacity.
A consortium led by U.S. oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States' presence in the eastern Mediterranean.
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