Oslo: Fred. Olsen Energy has said that subsidiary, Dolphin Drilling has received a contract termination for convenience notice from Anadarko Petroleum Corporation for the drillship Belford Dolphin (built 2000).
The termination is effective early September 2015, and Dolphin will receive a fee of around $52m.
After redelivery the vessel will undergo a five year class renewal survey and upgrades, which will take around 3-4 months and cost $130m.
Dolphin Drilling is the drilling contracting arm of Fred. Olsen Energy.