Northern Offshore announces contract for the Energy Searcher
Northern Offshore International Drilling Company Ltd., a subsidiary of Northern Offshore, Ltd. (NOF.OL) has executed a long-term drilling contract with an affiliate of CAMAC Energy Inc. (CAK), for the drillship Energy Searcher, the Group said Wednesday in a press release.
The contract commits to an initial period of one year, with an option to extend the contact for an additional one-year term. Commencement of drilling activities on the Oyo Field offshore Nigeria is expected during the first half of 2014. The contract value for the first one-year term is just under US$100 million, plus mobilization fees.
About the Company
Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas drilling units and one production vessel in various markets around the world, including the North Sea, the Indian Ocean, Southeast Asia and West Africa. The company’s fleet consists of four drilling units (a drillship, a semisubmersible and two jackup drilling rigs) and one floating production facility. Additionally, the company has under construction two 350’ high specification jackup drilling rigs, with delivery expected in the first and third quarters of 2016.
