Ocean Oil Construction and Services Ltd. has awarded Prosafe contract extensions for the use of the company's semi-submersible offshore support rigs Jasminia and Safe Regency for accommodation services in Mexico. The Jasminia contract has a duration of 74 days and runs from 1 January 2003 and the Regency contract has a duration of 109 days and runs from 1 January 2003. The contracts have a combined value of USD 5.8 mill.
The contracts demonstrate the strength of the market, and confirm that Prosafe together with its partner Cotemar has a strong position in the service and accommodation rig segment.
Prosafe is the world's leading owner and operator of semi-submersible service rigs, the largest platform drilling contractor in Norway and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached NOK 2.4 billion in 2001. The company employs approx. 1700 people. Prosafe operates in the North Sea, South-East Asia, India, Egypt, West Africa and the Gulf of Mexico. The company is headquartered in Stavanger, Norway. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Tananger, 2 January 2003
