Mubadala Hires Songa Venus Rig

Cyprus’ drilling contractor Songa Offshore has entered into a contract extension and farm out agreement for Songa Venus rig with Mubadala Petroleum from the current contract with Petronas.

The extension will cover a total of four firm wells in Vietnam and Malaysia under the current contract terms and conditions. This extension will see the unit occupied until October 2013. The extension has an aggregated revenue value of approximately USD 21 million.

[mappress]
March 1, 2013