Source - GNW

Reference is made to the ongoing conflict between the employers' organization Norsk Olje og Gass and the union IE Industry og Energi where various groups of oil service workers are on strike. Songa Offshore is not represented by Norsk Olje and Gass and as such not directly part of the conflict. The Company is, however, impacted as a number of its rigs have been taken out of operations when Statoil's operations have been affected by the strike.

The status for the operating Songa Offshore rigs is currently:

  • Songa Endurance is out of operations and on Force Majeure rate since 22 September
     
  • Songa Equinox is out of operations and on Force Majeure rate since 26 September
     
  • Songa Enabler is out of operations and on Force Majeure rate since 27 September
     
  • Songa Encourage is in operation but expected to be impacted by the conflict in the first half of October
     
  • Songa Delta is currently not expected to be impacted by the conflict

As a consequence of the rigs going out of operations, Songa Offshore is reducing offshore manning to the Safety Crew Level and 65 offshore employees have to date received notice of temporarily dismissal, with another 365 planned, in total 430 employees. This excludes any potential effects from Songa Encourage operations.

30 September 2016
Limassol, Cyprus

Questions should be directed to:
Bjørnar Iversen, CEO (+357 99649152)

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)



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Source: Songa Offshore SE via Globenewswire