Songa Hands Over Semi-Submersible Rig to Seadrill

Songa Offshore SE yesterday finalised the formal handover of Songa Eclipse to Seadrill in line with the Memorandum of Agreement from November 2012.

As previously reported, Songa’s net proceeds from the sale is USD 590 million. After repayment of debt, the net cash effect from the sale proceeds will be approximately USD 285 million.

“With the handover of Songa Eclipse now completed, Songa has further strengthened its position to become a leading international mid-water rig operator,” says interim CEO and chairman of the Songa Offshore board , Jens A Wilhelmsen.

Songa Eclipse is of the same design, Friede & Goldman ExD millenium, as four of Seadrill’s existing rigs in operation, West Sirius, West Taurus, West Orion and West Capricorn. The rig is dynamically positioned (DP 2 class certification) and equipped with Aker Solutions drilling equipment and have water depth capability up to 10,000ft and drilling depth capacity of up to 37,500ft. The subsea well control system includes a six-ram 15K psi BOP stack.

Related:

Seadrill Buys Songa Eclipse Rig for $590 Million

Songa Offshore Puts Difficult Period Behind, CEO Says

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January 4, 2013