Total value of the contract linked to the LoI excluding the option period is about USD 67 mill. Once the contract is finalised it will provide for a seamless transition from current operations using the Safe Bristolia to the Safe Astoria and demonstrate the suitability to challenging environments of the Prosafe fleet.
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. Operating profit reached USD 150 million in 2006. The company operates globally and employs approx. 1,000 people, and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Larnaca, Cyprus, 12 October 2007
Prosafe SE
For further information please contact:
Arne Austreid, President and CEO
Phone: +47 900 77 334/ +357 992 75 030
Karl Ronny Klungvedt, Exec. Vice President and CFO
Phone: +357 2462 1982 / +357 996 88 169
Robin Laird, President Offshore Support Services
Phone no: +65 6559 1980 / +65 8127 2101