Prosafe Provides Accomodation Vessel for Mariner Project

Prosafe has been awarded a contract from Statoil (U.K.) Ltd  for the provision of either the Safe Zephyrus or Safe Boreas accommodation support vessel at the Mariner project in the UK Continental Shelf of the North Sea.

The contract has been awarded following a competitive tendering process and is for a firm period of 8 months with on-site operations planned to commence mid-April 2016. In addition, Prosafe has granted Statoil four additional one-month options linked to the Mariner project.

Prosafe has also granted Statoil an 8-month option commencing mid-April 2017 with three additional one-month options linked to the Bressay project in the UK Continental Shelf of the North Sea. Statoil is required to exercise the 8-month option within March 2014, aligning with the project sanction.

Lastly, and dependent on the Bressay project sanction, Prosafe has granted Statoil options through 2018 into 2019.

Total value of the contract for the firm period award for the Mariner Project is approximately USD 76.3 million. The Safe Zephyrus or Safe Boreas provide Statoil with the flexibility of both DP3 and 12-point moored station keeping, together with the highest standard of accommodation facilities for the coming years.

Prosafe is the world’s leading owner and operator of semi-submersible accommodation/service rigs. 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.

Press Release, June 11, 2013

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