Prosafe Enters LOI with Talisman for MSV Regalia

- Prosafe Enters LOI with Talisman for MSV Regalia

Tuesday, June 28, 2011
Prosafe SE

Prosafe has been awarded a Letter of Intent ("LOI") by Talisman Energy for a 107 day contract using the MSV Regalia for accommodation support at the Yme facility in the Norwegian sector of the North Sea. On site operations are planned to commence early November 2011.

Total value of the contract for the firm period linked to the LOI is about USD 34 million.

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Prosafe Snags Bareboat Contract in Mexico

Prosafe Snags Bareboat Contract in Mexico

Tuesday, April 26, 2011
Prosafe SE

Prosafe has been awarded a Letter of Intent by Interpetroleum Services Limited ("charterer") for a bareboat contract for the Safe Bristolia, and contract extensions for the Jasminia and Safe Hibernia. The three rigs are going to be used at Pemex' Cantarell field in Mexico.

The Safe Bristolia bareboat contract commences mid-May 2011 and ends around end-March 2013. Mobilization and demobilization costs to and from the North Sea are for charterer's account. The total value is about USD 45.3 million.

The Jasminia bareboat contract is extended by 572 days, through to end-December 2012. The value of the extension is about USD 25.7 million. The extension of the Safe Hibernia bareboat contract is 219 days, through to mid-December 2011, and has a value of about USD 11.6 million.

ConocoPhillips Awards Prosafe Contract

ConocoPhillips Awards Prosafe Contract

Friday, March 25, 2011
Prosafe SE

ConocoPhillips has awarded Prosafe a two-month contract for use of the Safe Scandinavia for accommodation support at the Eldfisk Platform in the Norwegian sector of the North Sea. On site operations are planned to commence in May 2012.

Furthermore, reference is made to press release dated January 12, 2011 where Prosafe announced the award of a Letter of Intent by an undisclosed client for the provision of the Safe Scandinavia accommodation and service rig at a project in the UK sector of the North Sea for a four-month period, with an additional one-month option.

Prosafe now advises that the contract has been signed, and that the Safe Scandinavia will offer accommodation support for ConocoPhillips at the Jasmine Development Project. The contract will start in direct continuation of the contract at Eldfisk. In addition to the existing one-month option, Prosafe has granted ConocoPhillips an additional one-month option.

The revised total value of the contract for this two-month firm period plus existing four-month firm period is about USD 53.3 million.