Northern Ocean wins TotalEnergies contract extension

Northern Ocean Ltd. has announced an extension of the contract with a subsidiary of TotalEnergies SE for continued work in Africa using the Deepsea Mira. The term of the contract is extended from October 2024 for one well and provides one additional well option.

The extension from October provides revenue backlog of approximately $24.3-34.2 million with the option to extend for an additional well potentially adding a further approximately $26.9-36.9 million.