This early clarification gives Prosafe flexibility to focus on other contract possibilities in the time periods in question.
The business unit Offshore Support Services is currently secured a fleet utilisation of 81% excluding options in 2004, 62.5% for the years 2005-2007 and approx. 30% in 2008. The prospects for further work in the second half of 2004 are positive.
Beyond 2004, the company sees several possible requirements, both in the North Sea and international.
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 2.9 billion in 2002. The company employs approx. 2,000 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, 3 February 2004