Dolphin Drilling firms up $96m semisub contract in Nigeria

Øystein Stray Spetalen-backed semisub rig owner Dolphin Drilling has inked a firm 12-month contract with General Hydrocarbons Limited (GHL) in Nigeria for the 1974-built Blackford Dolphin.

The rig will commence operations during the fourth quarter of 2022 earning the company around $96m. GHL has the right to shorten the contract by up to six months.

“Dolphin Drilling has attractive assets, a strong team and a solid platform to leverage on the favourable market development with improved rates. The contract for Blackford Dolphin underlines the potential of the company and its assets, and we believe Dolphin Drilling will capitalise on the continued expected tight rig market for the rest of the fleet,” said Bjørnar Iversen, chief executive of Dolphin Drilling.

The company was recently listed on the Euronext N-OTC list and expects to be listed on Euronext Growth in late October.

Blackford Dolphin recently completed work in the Gulf of Mexico for Pemex. The unit will mobilise to Las Palmas for its special periodic survey prior to commencing operations in Nigeria.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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