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Article: Northern Offshore Comments on Contract Revenue Backlog.
- Article from:
- Economics Week
- Article date:
- November 13, 2009
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Northern Offshore, Ltd. (Oslo Bors: NOF.OL) announced a revision of estimated 2010 production tariff revenues from its offshore floating production facility, the Northern Producer. The Northern Producer is on location in the Don field area in the U.K. Sector of the North Sea under a "life-of-field" term contract. The majority of revenue from the Northern Producer is derived from a tariff on production moving across the platform. The tariff is based on both the level of oil production and the price of Brent crude. Estimated tariff revenue is included in the company's estimates of its contract revenue backlog.
Based on production estimates available to it, the ...