This extension results in an increase in the contract value by between USD 4.1 million and USD 6.7 million.
Prosafe has secured a rig utilisation of about 93% in 2006. Long-term market prospects for accommodation and service rigs are positive, and the business division has already now secured a fleet utilisation of 69% in 2007 and 40% in 2008.
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 295.3 million in 2005. The company employs approx. 650 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, 27 February 2006