Prosafe SE: Operational update Q3 2014

Prosafe SE: Operational update Q3 2014

ID: 344078

(Thomson Reuters ONE) -


The fleet utilisation rate in the third quarter of 2014 was 96 per cent. Safe
Scandinavia, Safe Caledonia, Safe Concordia, Safe Lancia, Jasminia, Safe
Hibernia, Safe Britannia and Safe Regency were in full operation throughout the
quarter.

Safe Concordia is operating on a three-year contract with Petrobras in Brazil.
The average effective day rate in the third quarter was approximately USD
158,000.

Regalia completed the work for Statoil at the Grane field in Norway in early-
August and commenced the contract with Talisman for accommodation support at the
Montrose field in the UK in late-August.

Safe Bristolia was off-hire for nine days between completion of the contract
with ConocoPhillips at the Judy field in the UK and commencement of the work for
BG Group at the Everest field. Last week, operation of the vessel was suspended
due to damages sustained to lifeboats after experiencing extreme weather. The
vessel will be demobilised from the field for repair works to be conducted.

Safe Astoria completed its Indonesian operations for Swiber in May. In mid-July,
the vessel commenced mobilisation to the Malampaya field in the Philippines,
with the firm contract period of 11 months starting 1 August.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation/service vessels. Operating profit reached USD 245.1 million in
2013 and net profit was USD 199.1 million. The company operates globally,
employs about 650 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, 15 October 2014
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS




Phone: +47 51 64 25 88

Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 90 94 36 73


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Prosafe SE via GlobeNewswire
[HUG#1863010]




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Bereitgestellt von Benutzer: hugin
Datum: 15.10.2014 - 08:54 Uhr
Sprache: Deutsch
News-ID 344078
Anzahl Zeichen: 2868

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