Songa Offshore: Norwegian market set to decline in 2014

The rest of 2014 will continue to be characterized by a declining activity level on the Norwegian shelf, says Songa Offshore in its 2nd quarter interim report.

The decline in activity on the Norwegian shelf does not look set to stop in 2014, says Norwegian-Cypriot rig company Songa Offshore when pointing to expectations for the rest of the year, according to the company's 2nd quarter interim report, which shows a growing business and profit, though the bottom line looks stark following massive impairments.

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