Oslo-listed Dolphin Drilling has moved closer to securing fresh work for its semisubmersible Borgland Dolphin, signing a letter of intent with an undisclosed client. The potential contract is valued at around $230m and is set to start in the second half of 2027, rolling straight on from the rig’s current job with Repsol. If finalised, the firm term would run through to October 2031, aligning with the rig’s next special periodic survey window. The company said the deal also includes options for up to five additional years, offering longer-term visibility if exercised. The parties are still negotiating final terms, with the award subject to contract agreement and internal approvals. The LOI includes a termination fee of up to $3.8m payable to the Aberdeen-headquartered contractor, if the deal does not proceed. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsUnited Kingdom