Prosafe refers to the press release dated 30 June 2003, and advises that Norsk Hydro has not exercised the remaining options for use of the MSV Regalia on the Fram field in the North Sea. This implies that the rig will go off contract on 6 August 2003.
MSV Regalia will thereafter be taken to the yard in order to prepare for the subsea well intervention work for Statoil that will start early September.
Prosafe is the world's leading owner and operator of semi- submersible service rigs, a leading platform drilling contractor in the North Sea 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, 8 July 2003