Due to unexpected mechanical failures to already overhauled, installed and certified equipment and late delivery of OEM equipment, the completion of the yard stay for Songa Trym will be further delayed. The work and acceptance testing is now anticipated to be completed during the second half of February.

Until the work is completed, it is difficult to give an accurate figure regarding the cost implication of the delay, but the additional time, personnel and repair costs are expected to increase the costs compared to the previously communicated estimates. 

Once the additional work and client acceptance testing is completed, Statoil will undertake a planned project to upgrade the mud systems on the rig. This will take place at the current location at Stand-by rate and the rig will thereafter enter into its 3+2 year contract with Statoil under direct Songa Offshore management.

4 February 2013
Limassol, Cyprus

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.