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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Fincantieri Offshore Chooses AVEVA Software

One of the world’s largest shipbuilders uses AVEVA software to design next-generation drillship. Fincantieri Offshore has signed a contract with AVEVA to implement

Norway's Oil Sector May Face More Project Cuts, Delays

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

Diamond Offshore profit falls as rig demand softens

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 17 percent drop in quarterly profit as demand fell for rigs used in deep water drilling.

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1201 sec (8 req/sec)