Northern Offshore Announces New Contract Award for Jackup Energy Endeavour

HOUSTON, Feb. 24, 2011 /PRNewswire/ -- Northern Offshore, Ltd. (Oslo Bors: NOF.OL) today reported that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Maersk Olie og Gas AS ("Maersk"), for the jackup Energy Endeavour.  The award is subject to approval by the Danish Energy Authority.  The contract, for operations in the Danish Sector of the North Sea, has an initial duration of one year and is scheduled to commence in early April 2011.  Maersk has options to extend the contract for up to two further years. The contract value for the initial term is US$25.6 million.

Gary W. Casswell, Northern Offshore's president and CEO, said, "Maersk has a long history with the Energy Endeavour, and we look forward to providing the rig to them again under Northern Offshore's management."

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, offshore Russia, 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).  The company also provides rig management services, and is currently operating in this capacity on two semisubmersibles in the Caspian Sea.  More information on Northern Offshore, Ltd. may be found by visiting the company's website at http://www.northernoffshorelimited.com.

SOURCE Northern Offshore, Ltd.