These additional wells will be in direct continuation with the current contract with Lundin Norway.
According to the company, the contract value for the exercised option is about $64m for an estimated drilling program of 180 days.
Lundin said it has the option to extend the contract period with one additional well within 29 February 2012.
Dolphin Drilling is a subsidiary of Fred. Olsen Energy, a provider of exploration and production services to the offshore oil and gas industry.
