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Tailor-made for heavy weather

The Songa Endurance rig has been designed specifically for the tough weather conditions in the North Sea. It is the second delivery in a series of four.

Facts

Export Credit Norway offers Norwegian and foreign companies competitive export financing when buying capital goods and services from Norwegian exporters.

The Songa Endurance rig

From South-Korea to Troll

In August, the rig company Songa Offshore took delivery of Songa Endurance from the Daewoo yard in South Korea. The rig is currently en route to the Troll Field in the North Sea to begin an eight-year contract with Statoil. Songa Endurance is a “Category D unit”, and has been designed especially for the Norwegian continental shelf. Its primary tasks will be the drilling of production wells and well completion.

The semi-submersible rig can drill year-round, and in rough weather. It is capable of operating at depths of between 100 and 500 metres, and can drill wells to a depth of 8,500 metres. Drilling operations are expected to start early in the new year.

Export financing

Export Credit Norway has contributed USD 132 million in financing for the rig, based on the involvement of Norwegian equipment suppliers such as MH Wirth, Kongsberg Maritime, Viking and Norsafe. The loan, which has a maturity of 10 years, has been guaranteed by GIEK and forms part of a larger loan syndication.


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