By the amendment, the firm period has been extended from one year to two years. The value of the two-year firm period, including mobilisation and demobilisation, is approximately USD 104 million. In addition, Prosafe has granted a one-year option with a value of minimum USD 55 million.
Long-term market prospects for accommodation and service rigs are positive, and Prosafe is, through the acquisition of Consafe Offshore, expanding capacity to serve the increasing demand.
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 profit reached USD 103.6 million in 2005. The company operates globally and employs approx. 700 people. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Tananger, 8 June 2006