Songa Offshore delivers best operating result in three years

Norwegian-Cypriot Songa Offshore delivered a net result of USD 1.4 million following a major impairment in the first quarter of the year. A strong quarter, says CEO.

Photo: Songa Offshore

Offshore company Songa Offshore achieved a revenue of USD 154.7 million in the 1st quarter 2014, and the company presented an operating profit (EBITDA) of USD 65.3 million, according to the company's interim report, published Monday.

Songa Offshore's net result came to USD 1.4 million, following a USD 24.7 million impairment related to the two rigs Songa Mercur and Songa Venus.

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