Offshore

Oil price drags driller Songa Offshore further down

Drilling unit Songa Offshore is hit hard by the low oil price and delivered a tripled deficit in 2015. The company still projects at least two extremely tough years ahead for the offshore sector.
Photo: Songa Offshore
Photo: Songa Offshore
by DANIEL LOGAN

Norwegian driller Songa Offshore, which is largely exposed to the currently miserable North Sea offshore market where a majority of the company's rigs are on contract for Statoil, suffered an unsurprising setback in its results for 2015.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
    • Must be at least 8 characters, including three of: Uppercase, lowercase, numbers, symbols
    Must contain at least 2 characters
    Must contain at least 2 characters

    Get full access for you and your coworkers

    Start a free company trial today

    Share article

    Related articles

    Sign up for our newsletter

    Stay ahead of development by receiving our newsletter on the latest sector knowledge.

    Newsletter terms

    Front page now

    Further reading

    Jobs