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.