Rosneft Signs 30-Month Rig Contract with Northern Offshore

Energy Endeavor northern offshore rig jackup
Energy Endeavour, image: Northern Offshore

Houston-headquartered Northern Offshore, Ltd. (Oslo: NOF.OL) announced at the end of July it had secured a 2 ½ year contract with Rosneft, in conjunction with North Atlantic Drilling Ltd., for the provision of the jackup drilling rig Energy Endeavour.

NOF estimates the contract value to be in excess of US$150 million, exclusive of any mobilization fees.

Gary W. Casswell, Northern Offshore’s president and CEO, said “This is an exciting opportunity for the company, and we are delighted that Rosneft has selected Northern Offshore and the Energy Endeavour for this program. We look forward to working with them and achieving a safe and successful drilling campaign.”

Northern Offshore is an offshore drilling holding company with 17 subsidiaries around the world and strong ties to the offshore drilling empire built by John Fredriksen. The company is chaired by Scott O’Keefe and the board of directors includes Harald Thorstein – CEO of Aktiv Kapital, Mark Rosenberg, Cecilie Fredriksen and James LaChance.

The Energy Endeavor is currently on contract operating in the Dutch sector of the North Sea for Wintershall Noordzee B.V. at $160,000 per day. Its current contract expires on November 1, 2014.