Songa Offshore SE : Songa Dee SPS Update

The scope of work for the Songa Dee Special Periodic Survey (SPS) has progressed according to plan, including the budget of 60 days and USD 90 million. The rig has during the yard stay achieved its certification on hull and structure by DNV, the BOP has been overhauled and lifted back on-board. The commissioning of the BOP, as well as the winch upgrades, are in its final stages.   

During the yard stay the Songa Dee has, however, experienced unexpected failure on one of four main engines. Critical parts for the engine are currently being prepared for re-installation. The rig is expected to leave Invergordon, Scotland, on 7 November 2014, allowing it to be back on day rate a few days later. The costs related to the engine incident will be claimed against insurance and are not expected to impact the overall yard stay costs beyond the budget.

Limassol, Cyprus
20 October 2014

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

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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Source: Songa Offshore SE via Globenewswire

HUG#1864013