Deepsea Trym Receives Contract Extension from StatoilHydro

Songa Offshore ASA has entered into a contract with Deep Sea Rig AS ('DSR'), a company within the Odfjell Group, for lease and management of the Company's semisubmersible Deepsea Trym.

At the same time DSR has entered into an agreement with StatoilHydro ASA for an extension of the current contract between those two parties. The contract secures continued employment for Deepsea Trym for two years plus an optional third year.

The total value of the extended contract is estimated to be US $347 million. In addition, a bonus system for efficient operations will apply.

As to the rig, DSR and Songa have agreed on a management fee to be paid to DSR. This will run at 10% of actual achieved fixed rate, i.e. both parties are exposed to downtime if any.

Deepsea Trym is equipped with a 10K BOP system. Songa has recently ordered a 15K BOP from Cameron, with expected delivery during 2010. This to secure the ability to upgrade if needed. The above mentioned contracts do not assume an installation of the newly ordered BOP or any other upgrades.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Completions Supervisor
Expertise: Drilling Foreman / Drilling Supervisor|Production Engineering|Workover or Completion
Location: Watkins, CO
Drilling Supervisor
Expertise: Drilling Foreman / Drilling Supervisor
Location: Houston, TX
Tool Pusher
Expertise: Field Service Tech|Toolpusher|Well Servicing & Testing
Location: Hobbs, NM
search for more jobs

Brent Crude Oil : $59.02/BBL 3.79%
Light Crude Oil : $52.22/BBL 3.07%
Natural Gas : $2.92/MMBtu 1.31%
Updated in last 24 hours