Prosafe has purchased the M/T Navarin. The vessel is 276,830 DWT and was built in 1989 at Hyundai Heavy Industries.
Prosafe has observed a strong demand for FPSOs, and considers that the vessel is a very suitable candidate for several identified projects.
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. 900 people, and 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.
Stavanger, 1 December 2006
For further information, please contact:
Bjørn Henriksen, Exec. Vice President and CFO
Phone no: +47 902 52 480
Karl Ronny Klungtvedt, VP Finance and Treasury
Phone no: +47 51 64 25 40 / +47 908 81 657