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Songa Saturn Signs Contract With CNOOC For Drilling Offshore Equatorial Guinea

09-30-2008 

Songa Offshore ASA has signed a contract with CNOOC Africa Ltd. for a one well program offshore Equatorial Guinea. The contract will commence after the current drilling campaign in Libya which is expected to be completed late 2009.

Before starting the mobilization, Songa Saturn will complete the long planned upgrade of the rig from 3300 ft to 3800 ft water depth capacity. This work is likely to be carried out in Malta directly after the ongoing campaigns in Libya.