Northern Offshore Announces Contract Award for Drillship Energy Searcher

Sep 11, 2011, 23:00 ET from Northern Offshore, Ltd.

HOUSTON, Sept. 11, 2011 /PRNewswire/ -- Northern Offshore, Ltd. (Oslo Bors: NOF.OL) today announced that CNOOC Palung Aru Ltd. ("CNOOC") has awarded a contract for the drillship Energy Searcher. The contract is for one well offshore Indonesia and has an expected duration of from 60-90 days, including travel time from and back to Singapore. Commencement is expected during October 2011. The estimated contract value for the program is from US$18-25 million, including mobilization fees.

Gary W. Casswell, Northern Offshore's president and CEO, said, "We are pleased with CNOOC's award of this contract for the Energy Searcher, and look forward to a successful drilling program. We remain optimistic of increasing activity in the region and are ready to get the rig back to work following its major shipyard and equipment refurbishment project."

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 http://www.northernoffshorelimited.com.

For further information, please contact Brian Hefty at 1-713-739-7686, or via email at brian.hefty@northernoffshoreltd.com

SOURCE Northern Offshore, Ltd.



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