Dolphin Drilling wins contract extension and agrees to enter multi-year strategic alliance with i3 Energy

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.

Dolphin Drilling has entered into a drilling contract with I3 for a program covering 2 wells plus sidetracks on the Serenity prospect for either the Borgland Dolphin or Blackford Dolphin. The program is due to commence not later than 1st September 2020 or as otherwise agreed between the parties and includes an option for additional wells on the Minos High structure and the Liberator West area in Block 13/23c. The contract is conditional on i3 confirming availability of funds to satisfy its obligations under the contract 90 days prior to drilling commencement.

Dolphin Drilling drilled 2 wells on the Liberator and Serenity prospect last year. The successful relationship between Dolphin Drilling and i3 Energy has encouraged the two companies to agree to enter into this new contract.

Bjørnar Iversen, Chief Executive Officer of Dolphin Drilling said:

“We are extremely pleased to have been awarded this very important contract by i3 Energy under our 4 years Frame Agreement. This is a testament to the excellent relationship we have built, and further cement our strategic alliance. We are looking forward to again delivering a first-class operation to i3 Energy during their 2020 Drilling Campaign.”

Majid Shafiq, Chief Executive Officer of i3 Energy commented:

“We are delighted to have executed a drilling contract with Dolphin Drilling for our Summer 2020 appraisal programme. Dolphin performed exceptionally well in our 2019 campaign, drilling our wells on time and on budget and without any significant health, safety or environmental issues. The drilling contract and support announced today, not only contributes a significant component to the funding structure for our upcoming drilling campaign but also demonstrates the quality of our licenses.” Dolphin Drilling Ltd, Howe Moss Drive, Kirkhill Industrial Estate, Dyce, Aberdeen AB21 OGL Scotland, Tel: + 44 (0)1224 411411, Office: DDL, New Kings Court Tollgate, Chandler’s Ford, Eastleigh, Hampshire SO53 3LG

About Dolphin Drilling

Dolphin Drilling is one of the North Sea’s longest established drilling contractors, tracing its roots back to 1965. Dolphin Drilling has a strong presence in Stavanger and Aberdeen. The Company has a fleet of three 4th and 5th generation drilling rigs, consisting of Borgland Dolphin, Blackford Dolphin and Bideford Dolphin. The Company is significantly strengthened during second half of 2019, with new financing of the Company, a new Board of Directors, appointing a new world-class management team, which collectively has more than 100 years’ experience in offshore drilling.

Media contacts

Andy Groundwater, Head of PR, Fifth Ring – andy.groundwater@fifthring.com // 01224 628 088

Stevie Brown, Business Manager, Fifth Ring – stevie.brown@fifthring.com //01224 628 090