Due to unexpected mechanical failures to already overhauled, installed and
certified equipment and late delivery of OEM equipment, the completion of the
yard stay for Songa Trym will be further delayed. The work and acceptance
testing is now anticipated to be completed during the second half of February.
Until the work is completed, it is difficult to give an accurate figure
regarding the cost implication of the delay, but the additional time, personnel
and repair costs are expected to increase the costs compared to the previously
Once the additional work and client acceptance testing is completed, Statoil
will undertake aÂ planned project to upgrade the mud systems on the rig. This
will take place at the current location at Stand-by rate and the rig will
thereafter enter into its 3+2 year contract with Statoil under direct Songa
4 February 2013
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Songa Offshore SE via Thomson Reuters ONE