Grenland Group awarded semi upgrade design contract

Sept. 8, 2005

Fred Olsen Energy AS has awarded Grenland Group an engineering contract for the upgrade of a semisubmersible drilling unit of Aker H-3 design. The contract includes conceptual design as well as a complete basic design package for upgrade of an early generation semi to a deepwater drilling unit. The drilling unit, previously known as Ocean Liberator, is presently located in South Africa.

Offshore staff

(South Africa)-Fred Olsen Energy AS has awarded Grenland Group an engineering contract for the upgrade of a semisubmersible drilling unit of Aker H-3 design. The contract includes conceptual design as well as a complete basic design package for upgrade of an early generation semi to a deepwater drilling unit. The drilling unit, previously known asOcean Liberator, is presently located in South Africa.

After completion of the upgrade, the unit will enter into Dolphin Drilling's fleet under the name ofBlackford Dolphin. The contract represents a major task for Grenland Group, employing 30 engineers for half a year.

09/08/05