Dolphin Drilling has entered into a new multi-year contract for its semi-submersible drilling rig, the Borgland Dolphin, with an unnamed operator in the UK.
The agreement, disclosed in April 2026 as a letter of intent, adds around $239m to the company’s firm contract backlog.
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The contract is set to begin in the latter half of 2027 (H2 2027), immediately after the Borgland Dolphin completes its present assignment with Repsol Investigaciones Petroliferas.
The confirmed period of work will last until the rig’s next Special Period Survey (SPS), which is due in October 2031, covering both mobilisation and demobilisation.
There are also options that could extend the agreement by up to five additional years, with provisions addressing the SPS.
Dolphin Drilling CEO Michael Boyd said: “This contract award represents a significant milestone for Dolphin Drilling, materially strengthening our firm backlog to approximately $602m.
“Importantly, it delivers long-term earnings visibility across two rigs in the UK, both rigs firmly secured on contract for the next five years, as we guided on and in line with the strategic plan for Dolphin.
“With this enhanced backlog, we are establishing a more robust and cost-efficient operating platform, positioning the company to generate sustainable cash flows and capture further opportunities in an increasingly tight offshore drilling market.”
The Borgland Dolphin is a fifth-generation, enhanced Aker-H3 semi-submersible drilling rig equipped with RamRig technology.
The unit was initially commissioned in 1977 and underwent significant upgrades in 1999.
It is capable of working at water depths of up to 450m and features an eight-point mooring system.
The rig has a decades-long track record of operations in North Sea conditions.
