Dolphin Drilling Gains Long Term Contract for the Bollsta Dolphin Newbuild

Moss Maritime CS 60 E design fred olsenStill 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.