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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters StreetEvents

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Northern Offshore Ltd Announces Update on Contract for Energy Searcher

Sunday, 23 Sep 2012 10:14pm EDT 

Northern Offshore Ltd announced that the Joint Operating Company Vietgazprom (VGP), a joint venture between Petrovietnam and Gazprom, has given notice that the last two wells of their four-well program will not be drilled at this time. The second and final well under the current contract is expected to be completed by late September 2012. However, the Company and VGP are in discussion to formally suspend the contract to allow for the drilling of the two remaining wells during 2013, at rates, terms and conditions to be mutually agreed at the time of resumption of the suspended program. 

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