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Northern Offshore announces drillship energy searcher selected for drilling program

15 Dec 2011

HOUSTON, Dec. 14, 2011 /PRNewswire/ -- Northern Offshore, Ltd. (Oslo BOrs: NOF.OL) today announced that the Joint Operating Company Vietgazprom, a joint venture between Petrovietnam and Gazprom, ("VGP") has selected the drillship Energy Searcher for an upcoming drilling program offshore Vietnam. The program is expected to commence after the conclusion of the current contract with CNOOC. The duration is for a four-well program expected to last approximately 100 days per well. The estimated contract value is estimated at approximately US$72 million.

Gary W. Casswell, Northern Offshore's president and CEO, said "We are pleased VGP has selected the Energy Searcher again and look forward to working with their team in Vietnam. Along with our other recent contract announcements, this will contribute significantly to our 2012 revenue backlog. "

Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas production and drilling vessels in various markets around the world, including the North Sea, the Indian Ocean, the Mediterranean Sea and Southeast Asia. The company's fleet consists of one floating production facility and five drilling units (a drillship, a semisubmersible and three jackup drilling rigs). More information on Northern Offshore, Ltd. may be found by visiting the company's website at