Dolphin Drilling to Drill Additional Well for Peak

Fred Olsen Energy's subsidiary, Dolphin Drilling Ltd, has entered into an agreement with Aberdeen-based Peak Well Management Ltd. to drill one additional well in the United Kingdom North Sea with the semisub, Bredford Dolphin.

The estimated contract value is approximately US $10.6 million. Drilling is scheduled to begin in August in direct continuation of an already announced 60-day contract with Peak for the drilling of two wells in the UK North Sea.