Dolphin Drilling wins contract extension and agrees to enter multi-year strategic alliance with i3 Energy
Global contractor 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, Chief Executive Officer in 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.
Dolphin Drilling chooses Aberdeen as international headquarters
Aberdeen, UK, 5 September 2019: Dolphin Drilling, the global contractor with a rich North Sea history, today (September 5) announced it is establishing its international headquarters in Aberdeen.
The move signals Dolphin Drilling’s commitment to the North Sea at a time of increasing optimism for the drilling industry, with the announcement of the Aberdeen headquarters at the existing Howe Moss Drive site marking the beginning of a bright future for the company following significant investment from a United States-based private equity firm.
Bjørnar Iversen, who was recently appointed Chief Executive Officer, said: “We are a truly global company with a thriving, vibrant business and fantastic future ahead of us. We now have a UK parent company with strong operational bases in both Aberdeen and Stavanger, and have positioned ourselves to provide the very best quality of service to our clients at the best possible price.
“The North Sea has always played a significant role in Dolphin Drilling’s history, which can be traced back to 1965 where we were one of the first drilling companies to operate in the deep water and harsh environments. We are net-debt free, with some very good rigs ready to go to work, with financial flexibility which allows us to focus on our clients.”
The deep water, harsh environment drilling specialist, which also has a presence in Singapore and Brazil, owns a fleet of assets, most of which have been recently refurbished to incorporate the latest technology. This includes the semi-submersible Borgland Dolphin, which is believed to have set a new standard for the fastest rig turnaround when it was taken from standby to operational mode in just 70 days, after a contract was signed with i3 Energy.
Mr Iversen, who in his successful career has previously been CEO at Songa Offshore and held several posts at Odfjell Drilling including President and CEO, said: “Dolphin Drilling has pioneered rig design and operational excellence throughout its history. Our assets have one of the lowest carbon footprints, and our sustainable moored rig design provides best-in-class energy efficiency through significant savings on fuel consumption and CO2 emissions. The drilling efficiency of the rigs with their modern drilling packages has really proven them to be top performers in the industry.
“Getting the Borgland Dolphin ready for operation in just 70 days shows that Dolphin Drilling is ready, willing and most importantly able to play an important role in the next chapter of global offshore drilling.”
Dolphin Drilling announces contract with Shell
Global contractor Dolphin Drilling has secured further work for its Borgland Dolphin semi-submersible drilling rig to start in early 2020.
The company has won a contract with AS Norske Shell in Norway to provide rig support for the drilling and completion of a gas producer well on the Knarr field.
The work will commence in February following the completion of two other projects for the rig. Dolphin Drilling recently announced the Borgland Dolphin had secured contracts with i3 Energy for drilling operations on firstly the Liberator oilfield and then the Serenity prospect in the UK’s Central North Sea. The Borgland Dolphin is believed to have set a new standard for the fastest rig turnaround when it was taken from smart stacking to operational mode in just 70 days for the i3 Energy awards.
For the Shell contract, Dolphin Drilling will be working under the operator’s One Team system with integrated drilling and completions providers in a water depth of approximately 450 metres on the Norwegian Continental Shelf (NCS).
Dolphin Drilling Chief Executive Officer Bjørnar Iversen said: “We appreciate the trust Shell has placed in us by commissioning the Borgland Dolphin for this project. Shell is a strategic client for us and we look forward to a long-term relationship with the company. This is proof Dolphin Drilling and its assets are capable of working with anyone.
“The Borgland Dolphin is a highly efficient rig with an excellent performance record. Its layout is ideally suited for optimised drilling and completion work and we look forward to securing more activity on the Norwegian Continental Shelf, the UK Continental Shelf and further afield internationally.”
The fifth generation drilling and ram rig was completely rebuilt in 1999, part of the deepwater, 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, which also has a presence in Singapore and Brazil, recently announced its new international headquarters at Howe Moss Drive, Aberdeen, and operational bases in the Granite City and Stavanger following significant investment from a United States-based private equity firm. This means the company, which is net-debt free, has the financial flexibility to provide the very best quality of service to its clients at the best possible price.
Dolphin Drilling is one of the North Sea’s longest established drilling contractors, tracing its roots back to the 1960s. Dolphin Drilling recently underwent a significant restructuring process, both financially and at board level, appointing a new world-class management team, which collectively has more than 100 years’ experience in offshore drilling.
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