Norwegian semisub owner Dolphin Drilling has emerged as a frontrunner in the Oil India rig tender.
The Øystein Stray Spetalen-backed company said Thursday it had submitted the lowest bid for a 14-month firm contract.
Contract negotiations are expected to start shortly, and subject to the final award, start-up for the drilling campaign would be in the third quarter of 2024.
A deal, which includes extension options for seven months, will see the currently smart stacked 1977-built and later upgraded Borgland Dolphin reactivated.
Dolphin Drilling owns a fleet of three fourth- and fifth-generation enhanced Aker H3 semis. In June, the company snapped up a pair of Transocean rigs, the 1987-built Paul B Loyd Jr and the Transocean Leader, in a deal worth $61.5m.