Songa Eclipse gets first award

Offshore staff

LIMASSOL, Cypress – The newbuild semisubmersible drilling rig Songa Eclipse has a letter of award to drill offshore West Africa, says Songa Offshore SE. The award is for 18 months and includes at least one well.

The $286-million agreement has three one-year options at escalated day rates and requires government and partner approvals.

Songa also has agreed to acquire 100% interest in the Eclipse, agreeing to acquire the 48.1% it does not already own. If the deal is completed, Songa will pay $65 million and conditional bonus payments to the Sector Umbrella Trust (35.1%) and Pareto World Wide Offshore AS (13.1%).

07/25/2011



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