Prosafe SE: Operational update for Q4 2012 and contract extensions
Rig utilisation in the fourth quarter of 2012 was 82 per cent. Safe Scandinavia,
Safe Concordia, Safe Astoria, Safe Lancia, Jasminia, Safe Hibernia, Safe
Britannia, Safe Regency and Safe Bristolia have been on contract throughout the
Safe Concordia is operating on a long-term contract in Brazil. In the fourth
quarter the average effective dayrate was approximately USD 137,000.
Safe Caledonia remained at the yard throughout the fourth quarter undertaking a
life extension upgrade.
Regalia was off-hire and at the yard undertaking maintenance work during the
fourth quarter. The operating cost has been slightly higher than in normal
The first of four one-month options for Regalia for operations in 2014 has been
exercised by Statoil. This declared option has a value of USD 9.3 million. The
remaining three options are subject to availability of the Regalia.
Prosafe and BP Norge AS have agreed to further extend the Safe Scandinavia's
operations at Valhall until 7th February 2013. The value of the seven-day
contract extension is USD 2.1 million.
Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service rigs. Operating profit reached USD 192.3 million in 2011.
The company operates globally, employs 550 people and is headquartered in
Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code
PRS. For more information, please refer to www.prosafe.com.
Larnaca, 22 January 2013
Georgina Georgiou, General Manager
For further information, please contact:
Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 81
Sven BÃ¸rre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673
Cecilie Helland Ouff, Finance and IR Manager
Phone: +47 51 64 25 20
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Prosafe SE via Thomson Reuters ONE