Songa Offshore: High Operational Efficiency in January

Songa Offshore, an international offshore drilling company, has announced its rig fleet update for January 2014.

Songa Venus achieved an operational efficiency of 100% and an earnings efficiency of 97% during the month working for Mubadala Petroleum in Malaysia.

Songa Mercur achieved an operational efficiency of 100% and an earnings efficiency of 99% during the month working for Idemitsu in Vietnam.

Songa Trym achieved an operational efficiency of 100% and an earnings efficiency of 97% during the month working for Statoil in Norway.

Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 94% during the month working for Statoil in Norway.

Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 95% working for Statoil in Norway.

The earnings efficiencies of the three rigs operating in the North Sea were all negatively impacted by the rigs earning a Waiting-on-Weather rate due to inclement weather for extended periods of the month.

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Press Release, February 05, 2014