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Thursday, January 16, 2014
CAMAC Energy Inc. signed a long-term drilling contract with Northern Offshore Ltd. for use of the drillship Energy Searcher. The rig is expected to be delivered to the Oyo Field in OML 120 offshore Nigeria to commence drilling activities in H1 2014. In late-2013 the two companies signed a LoI in regards to theEnergy Searcher.
The signed agreement covers an initial period of one year, with an option to extend the contract for an additional one-year. The company plans to utilize the rig on its multi-year, high-impact development and exploration portfolio.
Kase Lawal, chairman and CEO, commented, “We are pleased to have executed the rig contract with Northern Offshore, which builds on our relationship, and ensures a highly capable and efficient rig to execute on our transformational development and exploration program in 2014 and beyond.”
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