Northern Offshore Announces New Contract Award for Jackup Energy Enhancer

HOUSTON, April 21 /PRNewswire-FirstCall/ -- Northern Offshore, Ltd. (Oslo Bors: NOF.OL) today announced that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with Perenco UK Limited ("Perenco"), for the jackup Energy Enhancer. The contract is for a one-well program on Perenco's Inde Field in the UK Southern North Sea, commencing on June 1, 2010 and with an estimated duration of around 40 days. The estimated contract value for the well is approximately US$2.9 million.

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In addition, Perenco has four options to extend the contract to undertake several well abandonments in Blocks 53/04 and 49/29.  Exercise of all four options would extend the contract's duration for an estimated additional 105 days.  

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 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.  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.

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