The contract extension has a value of ca. USD 4,4 mill.
Safe Caledonia is currently on location on the Bayu Undan field, awaiting contract commencement 1st July. The rig has been on standby dayrate from 20th May. The contract period including options total 10 months, and will keep the rig active until end of April 2004.
The contract also includes a further 2 one-month options that the client may exercise in the period April - May 2004, and the contract period may therefore add up to a total of one year until end of June 2004.
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.