Dolphin Drilling Cancels Offshore Contract With Nigerian Oil Firm

Offshore drilling contractor, Dolphin Drilling has terminated its contract for a semi-submersible rig with Peak Petroleum Industries Nigeria Limited for operations off Nigeria.

The firm cited consistent breach of terms with the Nigerian company.

The offshore drilling player inked a new contract for the Blackford Dolphin semi-submersible rig with Peak Petroleum Industries Nigeria Limited in March 2023 for operations off Nigeria with an effective day rate associated with the minimum firm contract period of $325,000, including the mobilisation fee.

Dolphin Drilling has terminated this deal due to what it deems to be a continued breach of the contract.

The 1974-built Blackford Dolphin is a semi-submersible drilling rig of an Enhanced Aker H-3 design and can accommodate 120 people.

This rig has been operating for General Hydrocarbons Limited (GHL) throughout the quarter and achieved 98.3 per cent operational performance.

The company explains that the contract backlog reported in the third quarter of 2023 report was adjusted for the contract termination and will remain at the same level as reported.