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Prosafe SE: Statoil (U.K.) Ltd contract award for Prosafe newbuild


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-06-11 08:57:03 -

Prosafe has been awarded a contract from Statoil (U.K.) Ltd ("Statoil") for the
provision of either the Safe Zephyrus or Safe Boreas accommodation support
vessel at the Mariner project in the UK Continental Shelf of the North Sea.

The contract has been awarded following a competitive tendering process and is
for a firm period of 8 months with on-site operations planned to commence mid-
April 2016. In addition, Prosafe has granted Statoil four additional one-month
options linked to the Mariner project.

Prosafe has also granted Statoil an 8-month option commencing mid-April 2017
with three additional one-month options linked to the Bressay project in the UK
Continental Shelf of the North Sea. Statoil is required to exercise the 8-month
option within March 2014, aligning with the project sanction.

Lastly, and dependent on 
the Bressay project sanction, Prosafe has granted Statoil options through 2018 into 2019. Total value of the contract for the firm period award for the Mariner Project is approximately USD 76.3 million. The Safe Zephyrus or Safe Boreas provide Statoil with the flexibility of both DP3 and 12-point moored station keeping, together with the highest standard of accommodation facilities for the coming years. Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 222.4 million in 2012 and net profit was USD 177.5 million. The company operates globally, employs 570 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, 11 June 2013 Georgina Georgiou, General Manager Prosafe SE For further information, please contact: Karl Ronny Klungtvedt, Chief Executive Officer Prosafe Management AS Phone: + 47 908 81 657 Sven Børre Larsen, Chief Financial Officer Prosafe Management AS Phone: +47 909 43 673 Cecilie Helland Ouff, Senior Manager Finance and Investor Relations Prosafe AS Phone: +47 991 09 467 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Prosafe SE via Thomson Reuters ONE [HUG#1708492]


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