Northern Producer Serves 6-Month Term as Construction Support Flotel

Northern Offshore has executed a LOIA with a large independent UK North Sea operator for the Northern Producer as a construction support flotel for a minimum 6-month term with options that could extend the arrangement for a full year.

The LOIA calls for the Northern Producer to be fully secured, anchored and alongside on January 21, 2008. The LOIA is subject to a number of items including a mutually agreed contract at which time detailed terms will be announced.