Idemitsu Hires Songa Mercur Rig for One Well in Vietnam
- Business & Finance
Songa Offshore has signed a firm contract with Idemitsu Oil & Gas Co., Ltd. for the use of Songa Mercur for one firm well offshore Vietnam.
The contract will start in direct continuation of the rig’s commitment with eniVietnam, thus keeping the unit busy into 2014. The contract also includes one option well, and this option will have to be exercised prior to the contract start.
The firm part of the contract has a minimum estimated duration of 80 days with aggregate revenue of approximately USD 21 million. The duration could be extended to approximately 140 days.