Norwegian offshore rig owner Dolphin Drilling has secured a new long-term contract with Harbour Energy for the semisubmersible drilling rig Paul B Loyd Jr in the UK sector of the North Sea.
The contract will begin immediately after the expiry of the rig’s current firm term and follows the letter of intent announced in April.
Under the new agreement, the additional firm period runs through to 30 August 2030 and adds about $150m to Dolphin Drilling’s backlog.
The deal also includes options for Harbour Energy to extend the contract for up to another five years.
The contract continues an existing engagement for the Paul B Loyd Jr, avoiding idle time for the rig and extending work in a region where demand for harsh-environment semisubmersibles has remained relatively firm.
Alongside the North Sea award, Dolphin Drilling also confirmed that the Blackford Dolphin will continue drilling operations for Oil India Limited.
The deepwater-capable semisubmersible is now expected to stay on contract until the end of July 2026 to complete drilling, testing and abandonment work east of India.
Chief executive Michael Boyd said Dolphin Drilling now holds $362m in firm contract backlog, with a further $849m tied to letters of intent and options previously disclosed in April.
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