Energy Searcher Wins Contract from Vietgazprom

Northern Offshore's Singapore-based subsidiary, Jet Holding Ltd. was awarded a contract with the Joint Operating Company Vietgazprom, a joint venture between Petrovietnam and Gazprom, for the drillship Energy Searcher. The five well contract is expected to begin between June and September, 2009 and run approximately 365 days, inclusive of a mobilization period. The estimated contract value is approximately US $122 million, which is comprised of US $116 million during the drilling period and US $6 million in mobilization and demobilization fees. The Energy Searcher, currently located in Singapore, concluded its last contract offshore Indonesia in late June 2008 and is available for interim work.

Marion Woolie, Northern Offshore president and CEO, said, "Although this term contract doesn't begin until mid-2009, it is an important step in expanding our revenue backlog. We are continuing to pursue several opportunities to fill in with shorter term work in front of the Vietgazprom program."

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Drilling Supervisor - Land
Expertise: Company Man|Drilling Consultant|Drilling Foreman / Drilling Supervisor
Location: Opportunities Throughout the Lower 48
Completions Supervisor
Expertise: Company Man|WellSite Supervisor|Workover or Completion
Location: Richmond, TX
Field Engineer-Wireline
Expertise: Drilling Foreman / Drilling Supervisor|Perforation
Location: Odessa, TX
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours