Statoil suspends Dolphin Drilling contract

Statoil suspends Dolphin Drilling contract

Fred. Olsen Energy has announced that its subsidiar, Dolphin Drilling, has received notice of suspension from Statoil for drilling rig Bideford Dolphin.

The rig will be suspended upon completion of current well, estimated to end of June 2016. The work is expected to resume beginning of October 2016. The rig will receive a suspension rate equal to 80% of operating rate during the suspension period.

Bideford Dolphin was built in 1975 and it was under a three-year contract, which was due to expire in Jan 2017, with a dayrate of around $423,000.

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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