Dolphin Drilling secures $96 million rig contract offshore Nigeria

Dolphin Drilling secured a year-long, $96 million contract with Nigeria-based General Hydrocarbons Limited (GHL) for the Blackford Dolphin rig. The contract will commence in the fourth quarter of this year.

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.

“We are proud to announce the final award of the Blackford Dolphin contract, proving our position in the niche moored semisubmersible market,” said Bjørnar Iversen, Chief Executive Officer at Dolphin Drilling. “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.”

Having recently announced its activation on the Euronext N-OTC list, the company is expected to be listed on Euronext Growth in late October.

Dolphin Drilling is best known for its track record in deep water drilling in harsh environments and owns a fleet of three fourth and fifth generation drilling rigs, the Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin.