Rig operator Songa Offshore announced Friday that it has entered into a contract extension and farm-out agreement with Mubadala Petroleum from a current contract with Petronas for its Songa Venus (mid-water semisub) rig.
The extension will cover a total of four firm wells in Vietnam and Malaysia under the current terms of and conditions of the contract. The extension will see the Songa Venus occupied until October 2013.
The new deal has an aggregated revenue value of approximately $21 million, said Songa.
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