The sale of Drilling Services is a step in Prosafe's strategy to enhance its focus on Floating Production and Offshore Support Services. The sale will release managerial and financial resources, which will be actively used to further develop the business divisions' positions in fast growing offshore markets.
Prosafe is the world's leading owner and operator of semi-submersible service rigs, and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached USD 470 million in 2004. The company employs approx. 600 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 August 2005