Northern Energy Update on Rig Employment

Press Release
Monday, September 24, 2012
'Energy Searcher' Photo courtesy of Northern Energy

Norway's Northern Offshore, Ltd announce that the last two wells of a 4-well program will not be drilled at the present time.

The Joint Operating Company Vietgazprom, a joint venture between Petrovietnam and Gazprom, ("VGP") has given notice that the last two wells will not be drilled at present. The second and final well under the current contract is expected to be completed by late September 2012. However, the Company and VGP are currently in discussion to formally suspend the contract to allow for the drilling of the two remaining wells during 2013, at rates, terms and conditions to be mutually agreed at the time of resumption of the suspended program.  

Gary W. Casswell, Northern Offshore's president and CEO, said, "While we are disappointed with the news from VGP, we continue to have a strong relationship and look forward to continuing the drilling program for them next year.  In the meantime, we are actively pursuing programs for the Energy Searcher in the region, and are optimistic about opportunities for the rig with improved market conditions and increasing dayrates."

The Energy Searcher is a conventionally moored drill ship, able to operate in water depths of up to 2,500 ft. It is equipped with an 18-3/4 inch x 10,000-psi BOP stack, a Maritime Hydraulics DDM top-drive and an eight-point chain mooring system. It has a deck load capacity of 9,000 tons and is able to accommodate 110 people.

Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas drilling units and one production vessel in various markets around the world, including the North Sea, the Indian Ocean and Southeast Asia. The company's fleet consists of five drilling units (a drillship, a semisubmersible and three jackup drilling rigs) and one floating production facility.

 

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

Contracts

Samsung Heavy Takes Up 7 Container Ship Order

South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned.

South Stream Gas Pipeline Re-route via Turkey Possible

Turkish Energy Minister Taner Yildiz said on Wednesday that Ankara would consider the passage of the South Stream natural gas pipeline through Turkey if Russia made such a request.

China Shipyard Delivers Handymax Size Bulk Carrier

COSCO Corporation (Singapore) inform that its Dalian Shipyard in China has delivered a bulk carrier of 57000 dwt, named "GUOTOU 108", to its Asian buyer. The Handymax bulker measures 189.

Offshore

Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger

Med Urals Market Awaits Short May Loading Schedule

Activity in the Russian Urals crude market froze on Tuesday as traders said they were awaiting the first loading dates for May for signs of how much supplies from

BOEM Proposes GoM Oil and Gas Lease Sale

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P.

Vessels

Hong Kong Tin Hau Festival

The Tin Hau Festival at Tai Miu Wan will be celebrated this year on 22 April 2014. Coxswains, owners and operators of local vessels are advised that arrangements

Fire Aboard US Warship Transiting Atlantic Ocean

U.S. Fleet Forces Command inform that a fire broke out aboard 'USS Hue City' (CG 66) as the ship was transiting the Atlantic.
 Hue City had departed Mayport, Fla.

Maersk Line named race partner for the Volvo Ocean Race

The world’s largest container shipping company, Maersk Line, is the official shipping partner for the Volvo Ocean Race, the pre-eminent round-the-world yacht race.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.1733 sec (6 req/sec)