Songa Offshore SE : January 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 98% 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 46% and an earnings efficiency of 45% working for Statoil in Norway. The rig performed weather related repairs until 12 January when it returned to operations. From 22 January the rig experienced further unplanned BOP related downtime. Songa Equinox was back on operating rate on 5 February 2016.

Songa Endurance achieved an operational efficiency of 11% and an earnings efficiency of 11% for the month, working for Statoil in Norway. Songa Endurance experienced BOP equipment failure while performing a final test on location the first week in January. This was repaired during the month and the 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 to Norway and is currently outside Angola heading towards Las Palmas .

Songa Enabler is scheduled to be delivered to the company late March 2016.

9 February, 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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