Songa Sees Increased Use of its Drilling Fleet

Norwegian drilling company Songa Offshore saw four of its six rigs achieve 100 percent, or near 100 percent, efficiency during July, according to a fleet update report issued by the company Friday. The figures indicate a marked improvement in activity for Songa over previous months.

Songa Venus (mid-water semisub) achieved an average operating efficiency of 100 percent during the month. The rig is continuing to be used by Petronas Carigali in Malaysia, and Petronas exercised its one-year optional contract last month securing continued work for the rig in Malaysia until 3Q 2013.
Songa Dee (mid-water semisub), which is being used by Statoil on the Gulfaks field, achieved an operating efficiency of 99 percent, as did Songa Delta (mid-water semisub)  and Songa Trym (mid-water semisub).
Songa Eclipse (UDW semisub) continued its contract with Total E&P in Angola and achieved an operating efficiency of 90 percent.
Meanwhile, Songa reported that its Mercur (mid-water semisub) rig is currently in transit to Trinidad, where it is expected to arrive on August 15. This rig is due to work on a contract in Cuba for Zarubezhneft in 4Q 2012.
The July fleet efficiency figures are an improvement on Songa's May/June fleet update, in which Venus, Delta and Trym each scored operating efficiencies of 98 percent, while Songa Dee achieved an operating efficiency of 94 percent and Eclipse only managed 67 percent. 
Songa said at the time of its first quarter results in May that, after its 1Q profit halved to $11.8 million, it had seen increased interest and activity in its markets, particularly in Malaysia.


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