Prosafe confirms that the FPSO Espoir Ivoirien has successfully completed the production test phase, and that the vessel now has commenced ordinary production. This is in line with previous announcements in which Prosafe has confirmed that the project is on budget and on schedule, and that first oil was expected in the first quarter of 2002.
FPSO Espoir Ivoirien will be producing on a fixed 10-year contract with 10 x 1 year options thereafter.
The Espoir-field, which is located offshore the Ivory Coast, is operated by Ranger Oil Côte d'Ivoire SARL, a wholly owned subsidiary of Canadian Natural Resources Ltd. (CNRL), with partners PETROCI Holding and Tullow Côte d'Ivoire Limited.
Canadian Natural Resources Ltd will be hosting a first-oil ceremony this week to mark the successful commencement of the oil production.
Prosafe is the world's leading owner and operator of semi-submersible accommodation and 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. 1600 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, 4 March 2002