BP extends Borgholm Dolphin contract

BP Exploration Operating Co. Ltd. has exercised the option with Dolphin Drilling Ltd., a subsidiary of Fred. Olsen Energy ASA (OSE:FOE), to add a month to its use of the semisubmersible accommodation unit Borgholm Dolphin.

Aug 31st, 2012

Offshore staff

OSLO, Norway –BP Exploration Operating Co. Ltd. has exercised the option with Dolphin Drilling Ltd., a subsidiary of Fred. Olsen Energy ASA (OSE:FOE), to add a month to its use of the semisubmersible accommodation unit Borgholm Dolphin.

This will be a direct continuation of thecurrent contract.

The contract value for the exercised option is approximately $5.7 million.

8/31/2012

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