Blackford Dolphin

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escveritas
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Blackford Dolphin

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DOLPHIN DRILLING PENS $83 MILLION CONTRACT WITH MAJOR MEXICAN OPERATOR

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Global contractor Dolphin Drilling announces it has signed an US$83 million contract with Petroleos Mexicanos (PEMEX).

The deal will see the North Sea drilling pioneer’s Blackford Dolphin rig utilised in Mexico for the duration of the work, which is expected to last around 15 months. The Blackford Dolphin is currently mobilising for Mexico ahead of the commencement of operations in October.

Bjørnar Iversen, Chief Executive Officer of Dolphin Drilling, said: “Our ability to mobilise the asset quickly and our excellent operational and safety performance were key to us winning the contract. Blackford Dolphin is one of the most efficient moored semisubmersibles on the market, providing a reduction of the CO2 emissions associated with drilling due its low fuel consumption and high drilling performance.

“Our alliance with PEMEX demonstrates how we can add value to operators located anywhere in the world, and I am looking forward to us continuing our global growth in the years to come, and see Mexico as a strategically important market for our moored semi-submersibles.”

A pioneer of North Sea drilling, Dolphin Drilling is celebrating its 55th year in operation this year and is one of the leading contractors in the industry. The Blackford Dolphin was completely rebuild in 2008 with a 6th gen topside and can operate in water depths from 70 to 1700 meters moored.
escveritas
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Re: Blackford Dolphin

Unread post by escveritas »

Stavanger, 4 October 2022



Dolphin Drilling AS (Dolphin Drilling, N-OTC:DDRIL) today announces the award of the 12-month contract for Blackford Dolphin by General Hydrocarbons Limited (GHL) in Nigeria. The contract has a total value of approximately USD 96 million.

“We are proud to announce the final award of the Blackford Dolphin contract, proving our position in the niche moored semisubmersible market. 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 capitalize on the continued expected tight rig market for the rest of the fleet,” says Bjørnar Iversen, Chief Executive Officer at Dolphin Drilling.

Reference is made to the announcement from Dolphin Drilling 1 September 2022, regarding a letter of award (LoA) for Blackford Dolphin in Nigeria. The company today announces the formal contract award, where the rig will commence 12-months operations during the fourth quarter of 2022 with a total contract value of approximately USD 96 million. GHL has the right to shorten the contract with up to 6 months.

Having recently completed work in the Gulf of Mexico for PEMEX, the Blackford Dolphin will mobilize to Las Palmas for its special periodic survey prior to commencing operations in Nigeria.

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