Fred Olsen and KNOC in Deal for Newbuild Drillship

Fred Olsen Energy ASA (FOE) has entered into an agreement of intent with the Korean state owned oil company, Korea National Oil Corporation (KNOC) of South Korea, to request proposals for the construction of a jointly owned new-build ultra deepwater drillship.

FOE's wholly owned subsidiary, Dolphin Drilling Ltd., will in case of realizing the project, undertake the technical and commercial operation of the drillship. Finalization of the project including Board approval, is expected within the end of the year.

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