Prosafe has received a Notice of Award for a minimum nine-month contract by Shell Philippines Exploration B.V. ('SPEX') using the Safe Astoria for accommodation support at the Malampaya Phase 3 Depletion Compression Project offshore Philippines. On site operations are planned to commence within Q2/Q3 2014. In addition, Prosafe has granted SPEX three additional one-month options.
Prosafe has provided SPEX the ability to alternatively choose a structure with 11-month firm period plus options, or 12-month firm period plus options.
Total value of the firm period will be between USD 58.1 million and USD 70.5 million depending on which alternative is selected.
Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 192.3 million in 2011. The company operates globally, employs 550 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, 12 March 2012
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673
Cecilie Helland Ouff, Finance and IR Manager
Prosafe AS
Phone: +47 51 64 25 20
Prosafe has provided SPEX the ability to alternatively choose a structure with 11-month firm period plus options, or 12-month firm period plus options.
Total value of the firm period will be between USD 58.1 million and USD 70.5 million depending on which alternative is selected.
Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 192.3 million in 2011. The company operates globally, employs 550 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, 12 March 2012
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673
Cecilie Helland Ouff, Finance and IR Manager
Prosafe AS
Phone: +47 51 64 25 20
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.