NEW CONTRACT TO PROSAFE

Hyundai Heavy Industries Co. Ltd. has awarded Procon Engineering AS, a wholly owned subsidiary of ProSafe ASA, the contract for delivery of the mud additive, bulk mud & cement and mud control system for the new Maersk Jack-Up Rig XL-1 to be built in Korea. The contract value is approx. NOK 20 mill. The work will commence immediately and the equipment will be delivered in April 2001.

This award confirms Procon Engineering’s leading position within drilling fluid system design and deliveries.

ProSafe ASA, comprising the business areas of Offshore Support Services, Offshore Drilling & Related Services and Technology & Engineering, is the largest contractor within the platform drilling segment on the Norwegian Continental Shelf and also the world’s leading operator of semi-submersible service rigs.


ProSafe is listed on the Oslo Stock Exchange under ticker code PRS.