Energy Enhancer Awarded 1-Well Contract in UK North Sea

Northern Offshore reports that the jackup Energy Enhancer was awarded a contract with SPD Limited to drill a well in the U.K. North Sea. The contract award is for an estimated 45-60 days with a contract value of approximately US $9-12 million.

The drilling contract, which will follow in direct continuation to the rig’s current contract with Star Energy, is expected to commence in mid-October 2008.

Northern Offshore took delivery of the rig from Maersk Contractors on September 14, 2008. Subsequent to the purchase of the rig by Northern Offshore in June 2007, Maersk Contractors had been operating it in the Danish sector of the North Sea under a management contract with Northern Offshore. The rig began its first contract under the direct management of Northern Offshore with Star Energy on September 14, 2008.

Fred Brooks, Northern Offshore Sr. Vice President of Operations, said “The transition of operations from Maersk to Northern Offshore was seamless due to the terrific efforts of our Aberdeen Operations team and an outstanding offshore crew. Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas production and drilling vessels deployed around the world. The Company's recently updated fleet consists of one floating production facility, and five drilling units (a drillship, a semisubmersible and three jackup drilling rigs). Additionally, the Company recently announced an agreement to acquire two North Sea-based semisubmersible drilling rigs. The Northern Offshore fleet operates in various markets including the North Sea, the Indian Ocean, offshore Russia and Southeast Asia.

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