Dolphin Drilling AS (OSE: DDRIL) (Dolphin) announced the contract fixture of its semi-submersible drilling rig BORGLAND DOLPHIN to REPSOL, a major Spanish multinational energy and petrochemical company, which represents approximately USD 60 million in firm contract backlog, as referenced to in our announcement dated 2nd September 2025, regarding a Letter of Intent.

Dolphin will now work to mobilize the BORGLAND DOLPHIN, where it will commence well, plug and abandonment operations scheduled to commence late 2026. The contract provides for a firm 7-wells and spans a minimum 220 days, with an option available to extend for a further 3 wells.

Chief Executive Officer, Jon-Oliver Bryce said: “This award demonstrates the trust Operators place in the Dolphin team and in BORGLAND DOLPHIN’s proven performance. As we prepare BORGLAND DOLPHIN for its next campaign, we continue to prioritize delivering safe, efficient and reliable operations throughout the fleet, generating long-term value for our partners and shareholders.”

BORGLAND DOLPHIN is currently warm stacked in Las Palmas, where the remaining special periodic survey will be completed. Dolphin continues to actively market BORGLAND DOLPHIN for additional opportunities.

About Dolphin Drilling

Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which owns and operates a fleet of harsh environment mid-water & deep-water semisubmersible drilling rigs, capable of working worldwide.

About Repsol

Repsol is a global multi-energy company that is leading the energy transition with its ambition of achieving zero net emissions by 2050. Present throughout the energy value chain, the company employs 24,000 people worldwide and distributes its products in nearly 100 countries to around 24 million customers.

To achieve zero net emissions by 2050, Repsol is deploying an integrated model of decarbonization technologies based on enhanced efficiency, increased renewable power generation capacity, production of low-carbon fuels, development of new customer solutions, the circular economy, and by driving breakthrough projects to reduce the industry’s carbon footprint.