Fred Olsen Energy to decommission semi-sub

Fred Olsen Energy to decommission semi-sub

Norwegian company Fred Olsen Energy has decided to decommission elderly semi-submersible rig Borgsten Dolphin in the third quarter.

The 1975-built rig is currently cold-stacked in Invergordon, Scotland. The company will use proceeds from the decommissioning to repay a $4.25m bank facility. It is the third semi-submersible rig the company has decommissioned after Borgny Dolphin and Borgholm Dolphin.

Fred Olsen Energy will be left with seven rigs and one tender support vessel.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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