Statoil finally cancels Songa Trym contract

Drilling contractor Songa has announced today that it has received a notice of cancellation from Statoil for the drilling contract for semisubmersible rig Songa Trym.

The cancellation will take effect after it completes work at the Tarvos well in the North Sea, expected to be around November 12. Songa said that it will receive a cancellation fee based on the current full day rate of $377,000 and the contract end date in March 2016.

Last month Songa announced that Statoil had suspended the contract for the rig, as it had done once before towards the end of 2014.

The rig was on a 3 year contract with a further two year option which was not taken up by Statoil. It will now be stacked while marketed for new employment.


Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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