NADL - Announces contract award for West Phoenix with VNG Norge
December 21 2017 - 1:30AM
Hamilton,
Bermuda, December 21, 2017 - North Atlantic Drilling Ltd
has been awarded a six firm well contract with VNG Norge for the
semi-submersible West Phoenix for work on the Fenja development in
the Norwegian Sea. In addition, the contract provides for
three optional wells prior to the fixed term period and three
optional wells after the fixed term period. The firm period is
expected to commence in early 2020. The backlog for the firm
period of the contract is estimated to be approximately US$ 80
million.
The award is subject to government
approval of the development plan which is expected in the first
half of 2018.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: North Atlantic Drilling Ltd. via
Globenewswire
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