Prosafe Secures Contract Extensions for Three Flotels

Prosafe and Elf Exploration UK Ltd have agreed an extension to the firm period for the provision of the Safe Bristolia accommodation support vessel at the Elgin-Franklin Facility in the British sector of the North Sea.

The duration or the firm extension period is 61 days starting mid-October 2013. Total value of the firm extension period is approximately USD 15.9 million. In addition, Prosafe has granted Elf Exploration a 14-day option.

A/S Norske Shell has exercised the two-week option for Regalia at the Draugen Topside Campaign Project offshore Norway, extending operations until 10 November. Total value of the two-week option is approximately USD 5 million.

Cotemar group has confirmed that Safe Lancia has been awarded a contract extension until mid-October.

Prosafe is the world’s leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 222.4 million in 2012 and net profit was USD 177.5 million. The company operates globally, employs 570 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS.

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Press Release, October 02, 2013