Songa Offshore eyes two tough years ahead

Swedish drilling company Songa Offshore turned a deficit into a profit in the first half of 2015, but the carrier sees two difficult years ahead.

Photo: Songa Offshore

Songa Offshore's revenue declined in the first half of the year, while profits jumped from black to red, according to the company's second quarter interim report.

The drilling company achieved a revenue of USD 230 million in the first half of the year, down from USD 306 million in the same period last year, while the result was positive at USD 6 million, a small improvement from a deficit of USD 7 million last year.

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