OSLO: Songa Offshore ASA signed a contract with CNOOC Africa Ltd. for the drilling of one well offshore Equatorial Guinea.
The contract will commence after the rig's current drilling campaign in Libya, which is expected to be completed in late 2009. Before starting the mobilization, Songa Saturn will complete its planned upgrade of the rig from 3,300 feet (1,016 m) to 3,800 feet (1,170 m) water depth capacity. This work is likely to be carried out in Malta directly after the ongoing campaigns in Libya. The contract has an estimated value of US$30 million inclusive of mobilization. The contract has demobilization alternatives for both West Africa and Malta.
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