Songa Offshore SE : February fleet update

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

Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 97% 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 achieved an operational efficiency of 73% and an earnings efficiency of 71 % working for Statoil in Norway. From 22 January, the rig experienced unplanned BOP related downtime. Songa Equinox was back on operating rate on 5 February 2016.

Songa Endurance achieved an operational efficiency of 75% and an earnings efficiency of 73% for the month, working for Statoil in Norway. Songa Endurance experienced BOP equipment failure while performing a final test on location in January. This rig was back on operating rate on 5 February 2016.

Songa Offshore took delivery of Songa Encourage on 16 December 2015. The rig is en route from Korea and is currently in transit between Las Palmas and Norway.

Songa Enabler is scheduled for delivery to the company in late March 2016.

7 March, 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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