Northern Offshore Jackup Energy Exerter Ops

Monday, August 10, 2009

Northern Offshore, Ltd. (Oslo Bors: NOF.OL) announced that its subsidiary, Northern Offshore U.K. Ltd., has completed its 120 day drilling contract offshore Greece utilizing the jackup rig Energy Exerter. The company said that the rig was under tow to a location offshore Malta where it would be cold stacked until drilling opportunities in the Mediterranean Sea improve.

The drilling contract for the work offshore Greece included a requirement that the operator provide a letter of credit in Northern's favor in the amount of $4.6m, representing approximately five weeks of dayrate. The company said that it had drawn the full amount of the letter of credit in partial settlement of amounts due from the operator and additionally expects to take a write-off of approximately $2.5m in the third quarter of 2009.

(www.northernoffshorelimited.com)

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Falklands' Oil Drilling at Isobel Deep Suspended

Oil explorers drilling in the waters north of the Falkland Islands have suspended work on the second well of their 2015 current six-well drilling campaign after a technical problem.

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

OSV Technology: Notable Designs & Deliveries

Though the market for Offshore Support Vessels (OSVs) is soft, advances in technology, fit and finish in  the sector is unrivaled in any other maritime niche over the past five years.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2912 sec (3 req/sec)