The extended contract period is from 17 September until 14 October 2005, and the estimated contract extension value is about USD 3 million.
Prosafe has now secured a fleet utilisation of approximately 91% in 2005, which is the highest rate ever in the company's history. Long-term market prospects for accommodation and service rigs are also positive, and the business division has already now secured a fleet utilisation of about 86% in 2006, 62.5% in 2007 and 34% in 2008.
Prosafe is the world's leading owner and operator of semi-submersible service rigs and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached USD 470 million in 2004. The company employs approx. 600 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, 16 September 2005