Dolphin Well Services Wins Phillips Contract

Dolphin Well Service AS, a subsidiary of Fred. Olsen Energy ASA, has signed a contract with Phillips Petroleum Company Norway for the provision of snubbing and hydraulic workover services for the Greater Ekofisk Area, and other Phillips wells drilled in the Norwegian sector. The contract has an estimated contract value for the firm period of NOK 82 million and expires on April 1, 2005. Phillips has the option to extend the contract twice by three years each.

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