Rocksource Secures Rig Capacity to Drill on Norwegian Continental Shelf

Rocksource ASA announced that the Company has entered into a rig consortium and secured rig capacity for drilling exploration wells on the Norwegian Continental Shelf.

Rocksource has, together with 5 other oil companies, secured a contract for the semi submersible drilling rig Borgland Dolphin for operation on the Norwegian Continental Shelf. The award is subject to final contract and commencement is estimated to be in direct continuation of current contract.

The estimated contract value between Dolphin AS, a subsidiary of Fred Olsen Energy ASA, and the consortium is approx USD 602 mill for a period of 3 years. Rocksource has secured a total of 92 days of the contract period.

Rocksource is in the process of building up a drilling campaign both in Norway and internationally. This rig capacity enables the Company to drill exploration wells on the Norwegian Continental Shelf according to our strategy. At the same time it will also strengthen future applications for new licenses in Norway, as it gives us the tool we need to mature the portfolio as an Operator.

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