Songa Offshore May Upgrade Songa Mercur for Deepwater Work

Songa Offshore's efforts to negotiate a contract for Songa Mercur in the Northern areas have not materialized, and discussions with potential operators are now focused on other regions. Several opportunities are being pursued.

However, due to great interest from potential clients, a detailed engineering study for upgrading the Mercur to 5000' water depth is currently being carried out. A shortage of deepwater rigs in the coming years is anticipated, and the Mercur may become one of the first available deepwater rigs. This is an option which Songa Offshore may take advantage of.

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