The Abo FPSO shall undertake an 8 +2 years contract for Nigerian Agip Exploration (NAE), an ENI subsidiary, on the Abo field offshore Nigeria. The conversion from Suezmax to FPSO has been completed in less than one year since contract award - on time and on budget.
Prosafe is looking forward to a long-term relationship with Nigerian Agip Exploration (NAE).
Prosafe has now 3 FPSO's on contract with a fixed remaining duration of 18,5 years plus up to a combined total of 15 years of options.
Prosafe is the world's leading owner and operator of semi-submersible service rigs, the largest platform drilling contractor in Norway and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached NOK 2.9 billion in 2002. The company employs approx. 1,800 people. Prosafe operates in the North Sea, South-East Asia, India, Egypt, West Africa and the Gulf of Mexico. The company is headquartered in Stavanger, Norway. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Tananger, 11 April 2003