NADL - Announces contract award for West Phoenix with VNG Norge

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.

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Source: North Atlantic Drilling Ltd. via Globenewswire