Petroleum Africa
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Wednesday, December 11, 2013
CAMAC International signed a LoI regarding terms and conditions of a long-term drilling contract with Northern Offshore for use of the drillship Energy Searcher. Both parties are working towards executing a definitive drilling contract on or before December 31.
The rig is expected to be delivered to the Oyo field offshore Nigeria in H1 2014 to commence drilling and completion activities. The signed LoI provides for an initial contract period of one year, with an option to extend the contract for an additional one-year term. The company plans to utilize the rig on its multi-well, high-impact development and exploration portfolio.
Kase L. Lawal, chairman and CEO, commented, “We are pleased that CAMAC International has executed this letter of intent with Northern Offshore, which ensures availability of a highly capable and efficient rig to execute on our transformational development and exploration program in the Oyo Field deepwater offshore Nigeria.”
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