Cyprus: Prosafe Announces 3Q Rig Utilisation Report

Cyprus: Prosafe Announces 3Q Rig Utilisation Report

Prosafe today reported rig utilisation in the third quarter of 2011 of 91 per cent. Safe Scandinavia, MSV Regalia, Safe Caledonia, Safe Esbjerg, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia, Safe Regency, Safe Bristolia and Safe Concordia have been fully utilised in the third quarter.

Safe Astoria was idle in the third quarter. The rig has been at Britoil Offshore in Indonesia undergoing upgrade and renewal survey.

Prosafe is the world’s leading owner and operator of semi-submersible accommodation/service rigs. The company operates globally, has about 430 employees and is listed on the Oslo Stock Exchange with ticker code PRS. Prosafe posted an operating profit of USD 221.1 million in 2010.

The group comprises a parent company, Prosafe SE, headquartered in Larnaca (Cyprus), and a business division, Prosafe Offshore, headquartered in Singapore. Prosafe has offices in Aberdeen (Scotland) and Stavanger (Norway). In addition, Prosafe may have local representation in the countries where its vessels are operating.

Source: Prosafe, October 18, 2011