NEW DRILLING CONTRACTS FOR BLACKFORD DOLPHIN

Dolphin Drilling Ltd, a subsidiary of Fred. Olsen Energy ASA, has entered into contracts with MPX North Sea ltd for one well in the UK sector and Capricorn Ireland Ltd (a wholly owned subsidiary of Cairn Energy PLC) for one well offshore Ireland with the semi-submersible Blackford Dolphin. The first well in the UK is due to commence early first quarter 2014 following the rig’s mobilisation from Brazil and completion of its five year class survey. The combined contract duration with MPX and Capricorn is expected to be around five months. The estimated total contract value is approximately USD 67 million.


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