Prosafe has been awarded a Letter of Intent (LoI) by Petróleo Brasileiro S.A. (Petrobras) for the provision of the Safe Concordia semi-submersible rig for safety and maintenance support offshore Brazil.
The firm period of the contract linked to the LoI is three years and the total contract value is about USD 157 million. Operations are planned to commence early in the second quarter of 2011.
The award of this LoI confirms that Brazil is a growing market for safety and maintenance support services.
Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 218.6 million in 2009. The company operates globally, employs approx. 400 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, 19 October 2010
Prosafe SE
For further information, please contact:
Karl Ronny Klungtvedt, Chief Executive Officer
Phone: +357 99 68 81 69
Cecilie Ouff, Finance Manager
Phone: +47 99 10 94 67