Offshore drilling contractor Dolphin Drilling said Thursday it had received a Letter of Award (LOA) for a drilling campaign from Oil India Limited for a 14-month firm period, with another 7-month extension option.
This follows Dolphin Drilling's mid-September announcement, which said it had been the lowest bidder in the Oil India offshore drilling rig tender.
Dolphin Drilling said at the time that the Borgland Dolphin semi-submersible drilling rig was the rig bid by Dolphin Drilling for the rig tender and that, subject to final award the contract start-up for the drilling campaign to start in Q3 2024.
In a statement on Thursday announcing the LOA award, Dolphin Drilling said the LOA is "subject to signed final contract."
No information was shared on the contract value.
For what is worth, Oil India Limited said Monday that the company's board had approved a charter hire of one anchor moored drillship or semi-submersible drilling unit with associated equipment and services at a total estimated cost of Rs.1282.55 crore [excluding GST]."
Converted to U.S. dollars, Rs. 1282.55 is currently worth around $154 million.