Agenda Q3 review Q3 financial highlights Yard stays and Cat D project update Fleet and contract update Going forward 3
Strategic review Songa is focussing on the NCS well positioned to become one of the leading rig operators in this sector Strategy forward Near term focus Where we are: Songa Trym upgrade and SPS 5 midwater drillings rigs capable…
Highlights Q3/Q4 2012 Planned and executed events 3Q 1st installments Cat D 4 paid, USD 111 million Assumed management from Odfjell Drilling of Songa Trym and Songa Delta as planned Steel cutting Songa Equinox New activity and…
Agenda Q3 review Q3 financial highlights Yard stays and Cat D project update Fleet and contract update Going forward
Sale of Songa Eclipse to Seadrill On November 16, Songa Eclipse was sold to Seadrill for net sale proceeds of USD 590 million. After repayment of debt, the net cash effect from the sale proceeds will be approximately USD 280…
P&L Q3 2012 Songa Offshore Group Consolidated Income Statement for the period ended 30 September 2012 (IFRS unaudited figures) Q3 Q2 Q3 Jan-Sep Jan-Sep Jan-Dec Amounts in USD '000 2012 2012 2011 2012 2011 2011 Operating revenue…
Balance Sheet Q3 2012 Songa Offshore Group Condensed consolidated statement of financial position at 30 September 2012 (IFRS - unaudited figures) (USD '000) 30/09/2012 31/12/2011 ASSETS Non-current assets Rigs, machinery and…
Balance Sheet Q3 2012 Songa Offshore Group Condensed consolidated statement of financial position at 30 September 2012 (IFRS - unaudited figures) (USD '000) 30/09/2012 31/12/2011 EQUITY AND LIABILITIES C apital and reserves…
Cash flow statement Songa Offshore Group Consolidated statement of cash flows for the quarter ended 30 Sep 2012 (IFRS - unaudited figures) (USD '000) 30/09/2012 30/09/2011 C ash flows from operating activities: Profit before tax…
Agenda Q3 review Q3 financial highlights Yard stays and Cat D project update Fleet and contract update Going forward
Songa Delta has commenced operations Songa Delta continued its operator sponsored upgrade and life enhancement yard stay at CCB. The project was finalized and the rig departed from CCB during the first week of November and…
Songa Tryms upgrade 85% completed Songa Trym is on SPS (Special Periodic Survey) and Operator sponsored rig upgrade & life enhancement program at CCB Repair and replacement scopes of drilling components have been increased Yard…
Songa Delta Yard-stay upgrades 2011-2012 YS2011 New Iron Roughneck New Piperack Crane New 6 KV Switchboards YS2012 New Catwalk New Shakers 5 yearly SPS New Helideck New 4th Floor Living Quarter Upgrade FastTrack XT…
SONGA TRYM 2012 SPS plus 10 Year Life Enhancement SCOPE AOC to Songa Management. Drill String Compensator Closure of Non Conformancies. Anti lock to bottom Choke & Kill manifold DW brake system Standpipe replacements Oil Based…
Cat D Schedule Regulatory compliance verification has been time consuming for DSME PSA compliance, based on NMD regulations with NOR flag. Statoil guidelines. DNV class requirements VDL challenges has generated requirements for…
Cat-D project status update Low execution risk Proven shipyard (DSME) Equinox Endurance Proven design and equipment x 4 Shipyard contract mirror operating specifics DSME responsible for design and operating criteria, including…
Agenda Q3 review Q3 financial highlights Yard stays and Cat D project update Fleet and contract update Going forward
Contract status and revenue backlog 2012 2013 2014 2015 2016 Unit Customer Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 NCS Songa Dee Statoil 1y Songa Trym Statoil 2x1 year Songa Delta Wintershall-DNO / Statoil…
Leading market position in the North Sea Supply side Norway - Drilling Tight market for floaters 10 2012 2013 2014 Unit Manager Built Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 9 Transocean Arctic Transocean 1986 8 Polar Pioneer Transocean…
Agenda Q3 review Q3 financial highlights Yard stays and Cat D project update Fleet and contract update Going forward
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