Songa Offshore SE has entered into an agreement with Opus Offshore Group for the sale of the Songa Mercur and Songa Venus rigs for $200 million.

The companies also have established a strategic joint venture (JV) drilling management company, the Songa-Opus JV. Opus Offshore will acquire 100% of the rigs, which will be operated by the Songa-Opus JV.

The current international operations of Songa Offshore, primarily related to the rigs in Southeast Asia, will be transferred to the Songa-Opus JV. In addition to the Songa Mercur and Songa Venus, the Songa-Opus JV will operate additional assets including Opus Offshore's Tiger series of drillships currently under construction or on order with scheduled delivery between 2014 and 2017.