Northern Offshore secures drillship contract for Indonesia project

Bermuda-based company Northern Offshore, Ltd. said that it has secured a contract for the drillship Energy Searcher from CNOOC Palung Aru Ltd. (CNOOC) worth around US$ 18-25 million.

The contract is for one well offshore Indonesia and has an expected duration of 60-90 days, including travel time from and back to Singapore. The commencement is expected during October 2011.

Gary W. Casswell, Northern Offshore's president and CEO, said the company remains 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. 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 semi-submersible and three jackup drilling rigs). (romel)