Northern Offshore Ltd. was created in July 2000 and reorganized into its current form on June 2, 2005 when a new Board of Directors was elected. The company was listed on the Oslo Stock Exchange in September 2007 and trades under the symbol “NOF”. In early 2008, a new management team was formed to undertake a strategy to:

• Operate more effectively worldwide
• Move aggressively to grow shareholder value through quality contracts
• Raise the visibility of the company in the industry and financial communities
• Attract the industry’s top talent

The company currently operates five drilling units in Asia and Europe and one floating production unit currently based in the U.K. North Sea. With this solid roster of equipment and a thirst for opportunity, NOF’s objectives are to grow the company while continually meeting or exceeding the expectations of our current customers. The following are some of the highlights of the NOF fleet and its plans:

• The semi-submersible Energy Driller received a Letter of Award for a new three (3) year contract commencing early 2012 with Oil & Natural Gas Company (ONGC) offshore India.
• The drillship Energy Searcher was awarded a one (1) well contract by CNOOC in Indonesia commencing Q4 2011. The unit is actively marketed in the Asia Pacific Region.
• The floating production unit Northern Producer is operating under a five (5) year contract or life of field in the U.K. sector of the North Sea.
• The jackup Energy Enhancer is currently contracted in the U.K. sector of the North Sea with Perenco U.K. The unit has been awarded a one (1) year contract by Maersk Oil and Gas offshore Denmark commencing early 2012.
• The jackup Energy Endeavour is currently operating under a one (1) year contract plus options for Maersk Oil and Gas offshore Denmark. Initial term expires April 2012.
• The jackup Energy Exerter is available from its warm stacking location offshore Malta.

A subsidiary company Northern Offshore U.K. Ltd. with its functional base in Aberdeen, staffs and operates the Energy Exerter, Energy Enhancer, and Energy Endeavour

A subsidiary company Northern Offshore Pte. Ltd. with its functional base in Singapore staffs and operates the Energy Driller and Energy Searcher.