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Provider: Reuters Investment Profile

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Songa Offshore SE Secures Contract Extension

Friday, 10 May 2013 02:39am EDT 

Songa Offshore SE announced that an agreement has been reached with Mubadala Petroleum to further extend the Venus program to cover an additional two firm wells and two option wells in Vietnam under the current contract terms and conditions. The two additional wells have a total estimated duration of 80 days and corresponding revenue of approximately USD 19 million. The Venus program for Mubadala Petroleum has a total estimated dry-hole duration of seven months (six firm wells and two option wells) and will see the unit occupied through 2013. 

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19 Dec 2014