Songa Delta - Letter of award from Statoil

Songa  Offshore SE is pleased to  announce that its 100% owned subsidiary, Songa
Rig  AS, 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 USD 409 million inclusive 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 Q2/early  Q3 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.

Limassol, 17 March 2011
Questions should be directed to:
Geir Karlsen, CFO [phone] / [phone]



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.






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Source: Songa Offshore SE via Thomson Reuters ONE

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