Songa Offshore SE : Cat D update
Mittwoch, 15.07.2015 08:45 von GlobeNewswire
Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) has delivered notices of arbitration in respect of the construction contracts for Songa Offshore's Cat D-rigs. No details regarding the dispute have been included by DSME in the notices. As informed by Songa Offshore (the "Company") in its first quarter 2015 interim financial report, DSME has experienced significant delays and cost overruns during the Cat D project. Irrespective of that, the Company continues to be of the view that any attempt to recover cost overruns is of no merit and will defend its position vigorously.
Further details will be provided as and when appropriate.
15 July 2015
Limassol, Cyprus
For further information, please contact:
Bjørnar Iversen, CEO (+357 996 49 152)
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via Globenewswire