Northern Offshore’s Vietnam Contract
Bermuda’s Northern Offshore, Ltd. this week announced that the Joint Operating Company Vietgazprom [VGP], a joint venture between Petrovietnam and Gazprom, has selected the drillship “Energy Searcher” [pictured] for an upcoming drilling programme off the Vietnam coast.
The duration is for a four-well programme expected to last approximately 100 days per well. The estimated contract value is estimated at approximately $72 million.
Gary W. Casswell, Northern Offshore’s president and CEO, said “We are pleased VGP has selected the ‘Energy Searcher’ again and look forward to working with their team in Vietnam.
“Along with our other recent contract announcements, this will contribute significantly to our 2012 revenue backlog. ”
Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas production and drilling vessels in various markets around the world, including the North Sea, the Indian Ocean, the Mediterranean Sea and Southeast Asia.
The company’s fleet consists of one floating production facility and five drilling units — a drillship, a semisubmersible and three jackup drilling rigs.
