Creditors are in the process of signing a deal to sell a drillship that had been Fred Olsen Energy’s crown jewel.

According to the Norwegian financial daily Finansavisen, the lenders are likely to book a substantial loss on the sale of the 51,400-gt Bolette Dolphin (built 2014).

The newspaper reports that creditors are close to landing a deal to sell the Hyundai Heavy Industries-built vessel to oil company Turkish Petroleum.