Dolphin Drilling enters multi-year strategic alliance with i3 Energy

10/30/2019

ABERDEEN - Dolphin Drilling has announced a two-month contract extension with i3 Energy for use of the Borgland Dolphin semi-submersible drilling rig and agreed to enter into a four-year strategic operations agreement between both companies.

Dolphin Drilling previously agreed a 94-day contract with i3 Energy for drilling operations on the Liberator oilfield, and the Serenity prospect in the UK’s Central North Sea. The harsh environment drilling specialist has agreed the contract extension by approximately 55 days, to enable i3 Energy to complete its planned drilling campaign.

The successful relationship between Dolphin Drilling and i3 Energy has encouraged the two companies to agree to enter into a four-year strategic alliance to enable i3 to meet its future rig demands.

Bjørnar Iversen, chief executive of Dolphin Drilling, said: “We are delighted to be able to offer i3 Energy the flexibility to use the Borgland Dolphin to complete its planned activity.

“We welcome the opportunity to develop a longer-term agreement with i3 Energy due to the excellent relationship we have built between each other so far, and we look forward to working together on further projects in the years ahead.”

Majid Shafiq, CEO at i3 Energy, said: “We have been very impressed with Dolphin Drilling as a company and the Borgland Dolphin rig. The excellent performance and flexibility of its approach has given us the confidence to agree to enter into a long-term strategic operations agreement with Dolphin Drilling where it will be our first choice rig supplier for future campaigns.”

Following completion of the latest work for i3 Energy, the Borgland Dolphin will go straight to the Knarr field on the Norwegian Continental Shelf to provide the drilling and completion of a gas production well for AS Norske Shell in Norway.

Mr Iversen added: “The demand for the Borgland Dolphin reflects the rig’s excellent efficiency and performance record and reaffirms the industry’s growing confidence in Dolphin Drilling’s determination to provide the very best quality of service, in a green and sustainable way to our clients at the best possible price.”

The Borgland Dolphin is a fifth generation drilling rig, which was completely rebuilt in 1999. It is part of the deep - and harsh environment drilling specialist’s fleet of assets, most of which have been recently refurbished to incorporate the latest technology. The Borgland Dolphin also rates as one of the “greenest” mobile drilling units in the North Sea.

One of the first drilling companies to operate in the North Sea in 1965, Dolphin Drilling, also has a presence in Singapore and Brazil, is net-debt free and recently announced its new international headquarters in Aberdeen, and operational bases in Aberdeen and Stavanger.

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