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January 26 2006

Songa Offshore lists in Oslo

Latest offshore drilling company to be listed on the Oslo Stock Exchange is Songa Offshore ASA (SONG).

While the name of the company may be new, there are some well known names in the Songa team. The Chairman of the Board is shipowner Arne Blystad. The CEO and President, based in the company's Houston office, is Robert J. Scott, who was previously Transocean's Senior Vice President of Operations.

Songa Offshore was founded in January 2005 with the purchase of the two semisubmersibles, Mata Redonda and La Muralla. The rigs were purchased from the Mexican company, IPC. The Mata Redonda was renamed Songa Venus and the La Muralla was renamed Songa Mercur.

The rigs were delivered to Songa Offshore in June 2005, and were moved to Galveston, where the company began preparing the rigs for work.

In September Songa Offshore purchased the drill ship Glomar Robert F Bauer. The rig was renamed Songa Saturn and delivered 11 November 2005. The Songa Saturn has entered a shipyard in Turkey for refurbishment and re-certification.

End of October 2005 Songa Offshore purchased 20.187 % of the semi submersible Deepsea Bergen.

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