HOUSTON, TEXAS -- December 4, 2008 -- Northern Offshore, Ltd. (Oslo BØrs: NOF.OL) today announced that its subsidiary, Northern Offshore U.K. Ltd, was awarded a contract with Centrica Resources Limited (“Centrica”), a subsidiary of Centrica plc, for the jackup Energy Enhancer. The one well drilling program is expected to begin mid-April 2009 and run approximately 35 days. The estimated contract value is approximately US$6.3 million. The Energy Enhancer, currently located in the U.K. North Sea, is about to commence a one well program with SPD Limited that is anticipated to conclude in mid-January. Northern Offshore is currently marketing the Energy Enhancer for work in the interim period, between the SPD and Centrica programs. The Centrica program is located in UKCS Block 48/7c, in their Seven Seas Field.
Northern Offshore U.K. Ltd. General Manager John Monks said “We are delighted that Centrica has selected Northern Offshore for this program and pleased to broaden our customer base in the North Sea with this new client.”
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). The Northern Offshore fleet operates in various markets including the North Sea, the Indian Ocean, offshore Russia, the Mediterranean Sea and Southeast Asia. More information on Northern Offshore, Ltd. may be found by visiting the Company's website at http://www.northernoffshorelimited.com.
For further information, please contact: Brian Hefty (713) 739-7686