DOW JONES NEWSWIRES
Norwegian oil rig operator Songa Offshore SE (SONG.OS) said
Thursday it has been awarded a $409 million for the Songa Delta rig
from Statoil ASA (STO).
MAIN FACTS:
-Its Songa Rig AS unit has received a Letter Of Award (LOA) from
Statoil for the use of Songa Delta for a 3 years firm plus 1 year
option drilling contract on the Norwegian Continental Shelf.
-The LOA is conditional to mutual agreement of contract terms
between the parties.
-The firm part of the contract has an aggregated revenue value
of $409 million inclusive of a rig upgrade element and an
associated yard stay prior to contract commencement.
-The contract also includes an option to extend the firm period
of the contract, and this option will have to be exercised prior to
the contract commencement.
-The yard stay and contract with Statoil will commence in direct
continuation of the rig's current commitment and subsequent
demobilization from Det Norske/Wintershall late second
quarter/early third quarter 2012.
-Songa Offshore will undertake full rig management and
operations responsibility of the Songa Delta from current Odfjell
Drilling Management at time of transition between contracts.
-Shares closed Wednesday at NOK32.10.
-By Dominic Chopping, Dow Jones Newswires; +46-8-5451-3093;
dominic.chopping@dowjones.com