Songa Offshore SE : December 2015 fleet update

Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 98% working for Statoil in Norway.

Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 99% for the month working for Statoil in Norway.

Songa Trym is currently being stacked, while marketed for new employment, following early cancellation of the drilling contract.

Songa Equinox commenced drilling operations on 7 December 2015 under its eight-year drilling contract with Statoil at the Troll Field on the Norwegian Continental Shelf. The rig was on operating rate up to 24 December, while the period from 24 to 31 December is being discussed in relation to what period the rig was on waiting-on-weather rate or on downtime. The rig is currently performing equipment repair. 

Songa Endurance commenced drilling operations on 31 December 2015 under its eight-year drilling contract with Statoil at the Troll Field. While performing a final test on location, the rig experienced BOP equipment failure, which is currently being repaired. The root cause of the incident is identified and all required spare parts are on the rig.

Songa Offshore took delivery of Songa Encourage on 16 December 2015. The rig is en route from Korea to Norway and is currently transiting between Singapore and Mauritius.

11 January, 2016

Limassol, Cyprus

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

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Source: Songa Offshore SE via Globenewswire

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