PanCanadian Exercises Drilling Option
Fred Olsen Energy
|Monday, January 07, 2002
Fred Olsen Energy has received confirmation that PanCanadian will drill the first optional well under its contract with the Borgny Dolphin. This additional contract extension has a value of approximately GBP 2.0 million. As a result of this additional commitment, the Borgny Dolphin is now expected to have continued work with PanCanadian until approximately late May 2002.