BP extends Borgholm Dolphin contract

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