Prosafe has been awarded two separate contracts by Statoil Petroleum AS ('Statoil') using the Safe Scandinavia and Regalia.
The Safe Scandinavia will be used for accommodation support at Snorre A in the Norwegian sector of the North Sea for a nine-month firm period. On site operations are planned to commence within March 2014. In addition, Prosafe has granted Statoil an additional three-month option. Statoil has the ability to extend the firm period to 16 months on or before end June 2012.
Total value of the nine-month firm period for the Safe Scandinavia is around USD 76.6 million. If the firm period is extended to 16 months, the total value will be around USD 132.8 million.
The Regalia will be used for accommodation support at Svalin/Grane in the Norwegian sector of the North Sea for a five-month firm period. On site operations are planned to commence within February 2014. In addition, Prosafe has granted Statoil four additional one-month options and if exercised, the Regalia will relocate to the Brage platform in the Norwegian sector of the North Sea. Statoil has the ability to extend the firm period to nine months on or before end June 2012.
Total value of the five-month firm period for the Regalia is around USD 47.3 million. If the firm period is extended to nine months, the total value will be around USD 74.7 million.
These awards from Statoil demonstrate the Safe Scandinavia's and Regalia's long-term value in the Norwegian sector. With the potential of continuous operations into Q3 2015 and the introduction of the new build Safe Boreas into the fleet within 2014, Prosafe is well placed to serve clients' accommodation requirements.
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, 10 April 2012
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 81
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 30
Cecilie Helland Ouff, Finance and IR Manager
Prosafe AS
Phone: +47 51 64 25 20
The Safe Scandinavia will be used for accommodation support at Snorre A in the Norwegian sector of the North Sea for a nine-month firm period. On site operations are planned to commence within March 2014. In addition, Prosafe has granted Statoil an additional three-month option. Statoil has the ability to extend the firm period to 16 months on or before end June 2012.
Total value of the nine-month firm period for the Safe Scandinavia is around USD 76.6 million. If the firm period is extended to 16 months, the total value will be around USD 132.8 million.
The Regalia will be used for accommodation support at Svalin/Grane in the Norwegian sector of the North Sea for a five-month firm period. On site operations are planned to commence within February 2014. In addition, Prosafe has granted Statoil four additional one-month options and if exercised, the Regalia will relocate to the Brage platform in the Norwegian sector of the North Sea. Statoil has the ability to extend the firm period to nine months on or before end June 2012.
Total value of the five-month firm period for the Regalia is around USD 47.3 million. If the firm period is extended to nine months, the total value will be around USD 74.7 million.
These awards from Statoil demonstrate the Safe Scandinavia's and Regalia's long-term value in the Norwegian sector. With the potential of continuous operations into Q3 2015 and the introduction of the new build Safe Boreas into the fleet within 2014, Prosafe is well placed to serve clients' accommodation requirements.
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, 10 April 2012
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 81
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 30
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.