Denmark: Northern Offshore Lands Deal for Energy Enhancer Jackup

Northern Offshore, Ltd. announced that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract from Maersk Olie og Gas AS (“Maersk”), for the jackup Energy Enhancer. The award is subject to approval by the Danish Energy Authority.

The contract, for operations in the Danish Sector of the North Sea, has an initial duration of one year and is scheduled to commence in early 2012. Maersk has options to extend the contract for up to three further years. The contract value for the initial term is US$35.7 million.

Gary W. Casswell, Northern Offshore’s president and CEO, said “We are very pleased with this contract award as it provides us with the opportunity to further strengthen our long-term relationship with Maersk. This award, in conjunction with our Energy Endeavour contract announced in February, secures our second rig in Denmark and represents an improving market in the North Sea for this rig class, as we have expected.”

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).

Source:Northern Offshore ,September 1, 2011