Northern Offshore Awarded Maersk Contract for Jackup
Northern Offshore reported that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Maersk Olie og Gas AS ("Maersk"), for the jackup Energy Endeavour. 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 April 2011. Maersk has options to extend the contract for up to two further years. The contract value for the initial term is US $25.6 million.
Gary W. Casswell, Northern Offshore's president and CEO, said, "Maersk has a long history with the Energy Endeavour, and we look forward to providing the rig to them again under Northern Offshore's management."
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