Fred Olsen Energy Awarded Contract for Borgholm Dolphin

Fred Olsen Energy has entered into a bareboat charter agreement for the accommodation unit Borgholm Dolphin with the Servicios Maritimos de Campeche of Mexico.

Borgholm Dolphin is commissioned for operation and will be delivered to the charterers in Norway for imminent departure to Mexico. The vessel will operate as a hotel platform under a 6-month contract with Pemex.

FOE will receive a reduced bareboat hire during the mobilization and demobilization. The value of the contract for Fred Olsen Energy including mobilization and demobilization is approximately US $7.5 million.