Prosafe Production, a subsidiary of Prosafe ASA, has been awarded a 1-year extension of the contract with Hitech Drilling Services India Limited for the use of the FSO Endeavor at the PY-3 field offshore India. The extension runs from 27 July 2002 and the estimated contract value is USD 5,5 mill.
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 2,5 billion in 2000. The company employs approx. 1800 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.prosafecorp.com.
Tananger, 29 January 2002