Northern Offshore orders high-end jackup drilling rigs

Two Northern Offshore (Oslo:NOF.OL) subsidiaries have contracted two newbuild drilling rigs from a Chinese shipyard.

Offshore staff

HOUSTON --Two Northern Offshore (Oslo:NOF.OL) subsidiaries have contracted two newbuild drilling rigs from a Chinese shipyard.

The contract price of just under $180 million covers construction of two LeTourneau Super 116E Class jackups, with an option for two more rigs of the same design.

Delivery of the rigs is scheduled for 1Q and 3Q, 2016 respectively.

President and CEO Gary W. Casswell said: "This is a turning point for our company, as we continue to execute our stated corporate strategy of transitioning into the ownership and operation of new, state-of-the-art jackup rigs…

“We are confident there will continue to be strongdemand for jackup rigs with the technical specifications and capabilities of these new assets, which are ideally suited for marketplaces in South East Asia, the Middle East, West Africa, and Latin America.”

10/28/2013

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