NORTHERN OFFSHORE LTD. 
By
Northern Offshore, Ltd. (Oslo Børs: NOF.OL) today announced
that both the semisubmersible
Energy Driller and drillship Energy Searcher have commenced
operations.
The Energy Searcher went on dayrate under the contract with
the Joint Operating Company Vietgazprom, a joint venture
between Petrovietnam and Gazprom, ("VGP") for their drilling
program offshore Vietnam on April 6, 2012. The duration is
for a four-well program expected to last approximately 100
days per well. The estimated contract value is approximately
US$72 million. The Energy Driller commenced the contract with
ONGC for their three-year drilling program offshore India on
April 19, 2012. The estimated contract value is approximately
US$230 million.
About the Company
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, the Mediterranean Sea 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. More information on
Northern Offshore, Ltd. may be found by visiting the
company's website at http://www.northernoffshorelimited.com.
This announcement contains statements that reflect the
company's expectations or predictions of the future. These
statements are forward-looking statements. These
forward-looking statements may include statements regarding
earnings guidance, capital allocation strategy, the impact of
activity levels, business performance, and other market and
industry conditions. The company's actual results could
differ materially from those reflected in such
forward-looking statements. Additional information concerning
factors that could cause actual results to differ
materially
from those in the forward-looking statements is contained
from time to time in the company's regulatory filings. The
company disclaims any intention or obligation to revise any
forward- looking statements, including financial estimates,
whether as a result of new information, future events or
otherwise.
For further information, please contact: Brian Hefty at (713)
739-7686,
or via
email at brian.hefty@northernoffshoreltd.com
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