Songa Offshore SE

New Board of Directors

(Limassol, Cyprus, June 7th,  2014) Mr. Michael Mannering, President of the Rig Management Group at Schlumberger, was today elected Chairman of the Board of Directors of Songa Offshore SE (OSE: SONG) at the company's annual general meeting today. Mr. Mannering, who succeeds Jens A Wilhelmsen, has more than 30 years experience from the international drilling industry. He is also Chairman of Saxon Energy Services, a Canadian based international drilling contractor with 95 land rigs, and sits on the board of Schlumberger Oilfield UK.

• Few, if any, have more extensive experience from international drilling than Mike Mannering. With the re-election of current directors Steven James McTiernan and Arnaud Bobillier, Songa now has a world-class board - perhaps the most experienced of all comparable rig operators, says CEO Bjørnar Iversen. 

Songa's largest shareholder, Frederik Wilhelm Mohn, was elected as new Director. In addition the board comprises Arne Blystad and Mrs Nancy Erotocritou who were all/both re-elected.

Songa currently operates five mid deep water rigs, three of which are on contracts with Statoil in the North Sea. In addition, the company has four Category D rigs under construction in South Korea.

Songa is a company with great industrial potential. At the same time, we do, however, also have a need to find good solutions for financing of the four new-builds. In this context, the new board's extensive financial and operational experience represent a significant strengthening of the company, says
Mr. Bjornar Iversen.

For further information, please contact:

CEO Bjørnar Iversen, Mobile phone [phone]

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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Source: Songa Offshore SE via Thomson Reuters ONE

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