GIEK guarantees for Norwegian equipment package for Songa Equinox

GIEK has issued a guarantee of USD 132 million for the financing of Songa Equinox. GIEK’s guarantee covers loan issued by Export Credit Norway and involves equipment supplied by Norwegian exporters including MHWirth, Kongsberg Maritime, Norsafe, Viking Life-Saving Equipment, Glamox, DNV GL, Cybernetics, and Aker Solutions.

Songa Equinox is owned by Songa Offshore, and is a sixth generation, high specification, harsh environment, midwater rig designed for efficient year around drilling, completion, testing and intervention operations in water depths up to 500 meters. Songa Equinox is the first rig in a series of four Category D rigs specifically built for and contracted to Statoil, according to a press release by Songa Offshore. An eight-year drilling contract working with Statoil at the Troll field in the North Sea, will commence in the fourth quarter this year, according to the press release.

Songa Equinox was delivered 30 June from the Daewoo Shipbuilding & Marine Engineering (DSME) yard in South Korea.