Songa Offshore SE : Short suspension of Songa Trym

Statoil will suspend Songa Trym contract after the current well at the Oseberg field in the North Sea. The rig is currently performing plug and abandonment activity and is ahead of planned schedule for this scope of work. From mid November 2014, the rig will go on 75% suspension rate (USD 279.000 per day) expected until the end of the year 2014.

Songa Offshore plan to take the opportunity of this suspension period to accelerate some specific planned maintenance work that is more cost efficiently achieved outside operations.

The overall financial impact is expected to be limited, due to anticipated lower operating expenses in the suspension period.

Limassol, Cyprus
6 November 2014

For further information, please contact:
Bjørnar Iversen, CEO ([phone])

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

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via Globenewswire

HUG#1869197