Songa Offshore enters into a letter of intent for an extension of
Songa Trym's contract with Statoil
(Thomson Reuters ONE) - Songa Offshore SE ("Songa") is pleased to announce that we haveentered into a letter of intent with Statoil Petroleum AS ("Statoil")for the semisubmersible Songa Trym for operation in the NorwegianNorth Sea. The letter of intent is subject Statoil's partners'approval by 19 November 2009. The current contract expires 1 February2011, while the renegotiated contract has extended the terminationdate until 1 July 2012, partly in exchange for a reduction in thedayrate for the remaining originally contracted period. The contractvalue for the period from 1 December 2009 until 1 July 2012 is USD344 million.In addition Statoil has an option for one or two additional years,such option to be exercised by 1 July 2011.If Statoil elects to exercise the option period, any cost associatedwith continued maintenance of the AOC from the Petroleum SafetyAuthority Norway will be amortized and added to the day rate over theoption period.Additional upgrade to enhance the rig's subsea completioncapabilities is under evaluation by Statoil, and any cost for thisupgrade will be paid by Statoil under an amortization schedule forthe remaining firm period of the contract.The current manager of Songa Trym, Odfjell, will continue to managethe rig under a revised operating agreement between Songa and Odfjellwith reduced management fee.Limassol, 11 November 2009Contact:CEO Asbjørn Vavik +47 2301 1420CFO Tom E. Jebsen +47 2301 1431This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.11.2009 - 21:29 Uhr
Sprache: Deutsch
News-ID 8243
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