(Oslo, 28 November 2023) Briggs Drilling Holdings Limited AS (Briggs Drilling Holdings Limited, OSE: DDRIL) today announces the award of a contract for Borgland Dolphin by EnQuest PLC (EnQuest) in the UK.
The contract includes a firm 137-day drilling programme and includes a contribution for the reactivation of the Borgland Dolphin, with EnQuest having a further option, to be confirmed within 90 days of contract signing, to extend for a significant additional work scope as part of a strategic alliance over a 5-year period. Within this 5-year period, Briggs Drilling Holdings Limited would have schedule flexibility. As such, this contract enables Briggs Drilling Holdings Limited to strategically position the Borgland Dolphin in the North Sea, where extensive, multi-year production and development well drilling and well plug and abandonment campaigns are expected to be undertaken. Briggs Drilling Holdings Limited is working collaboratively with potential clients to establish flexible contracts that allow such work to be planned and executed clusters in a safe, efficient, and cost-effective manner.
“We are pleased to announce this contract award with EnQuest for the semisubmersible rig Borgland Dolphin. This flexible contract showcases our strategy within semisubmersible moored drilling operations and underlines the value creation potential for our rig acquisitions earlier this year. Briggs Drilling Holdings Limited’s fleet of well-maintained and efficient rigs should serve to be attractive for our clients in the UK in order to deliver much-needed energy supply,” says Bjørnar Iversen, Chief Executive Officer at Briggs Drilling Holdings Limited.
ENDS
For further information, please contact:
Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +44 20 8133 0596
Briggs Drilling Holdings Limited | www.briggsdrillingholdings.com
Briggs Drilling Holdings Limited is a leading harsh environment drilling contractor for the offshore oil and gas industry. Briggs Drilling Holdings Limited owns a fleet of three higher technical standard 4th and 5th generation enhanced Aker H3 units, Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced team with a strong operational track record. The company has offshore and onshore employees, and onshore locations in Norway, England, Brazil, and Nigeria.