Northern Ocean Ltd (the “Company” or “NOL”) has agreed to an amendment of the
West Bollsta drilling contract with Lundin Energy Norway AS deferring the
commencement of drilling activities to early fourth quarter 2020.
During the idle period the rig will remain in Norway and compensation for
operating costs will be provided until commencement of drilling activities.
Considering the current market conditions and impacts from the global COVID-19
pandemic, the amendment reflects commitment from both Parties to find acceptable
solutions for delays and the West Bollsta remains a part of Lundin’s long term
CEO of Northern Ocean
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Additional information about the Company can be found at:
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
Forward Looking Statements
Matters discussed in this release may contain certain forward-looking statements
relating to the business, financial performance and results of the Company
and/or the industry in which it operates, sometimes identified by the words
“believes”, “expects”, “intends”, “plans”, “estimates” and similar expressions.
The forward-looking statements contained in this release, including assumptions,
opinions and views of the Company or cited from third-party sources, are solely
opinions and forecasts which are subject to risks, uncertainties and other
factors that may cause actual events to differ materially from any anticipated
development. The Company does not provide any assurance that that the
assumptions underlying such forward-looking statements are free from errors, nor
does the Company accept any responsibility for the future accuracy of the
opinions expressed in the presentation or the actual occurrence of the
forecasted developments. No obligations are assumed to update any
forward-looking statements or to conform to these forward-looking statements to