Songa Mercur Rig Leaving Cuba for Vietnam

Cyprus’ based offshore drilling contractor Songa Offshore has signed a contract with eniVietnam for the use of Songa Mercur for one firm well offshore Vietnam.

The contract will begin in direct continuation of the rig’s current commitment and subsequent demobilization from Zarubezhneft (Cuba). The contract also includes one option well, and this option will have to be exercised prior to the contract commencement.

The firm part of the contract has an estimated duration of 45 days with aggregate revenue of approximately USD 14 million. The contract value is inclusive of a mobilization element, which supplements the demobilization fees paid by Zarubezneft.

 April 22, 2013

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