Prosafe SE :Amendment and contract extension signed with Petrobras

Prosafe SE :Amendment and contract extension signed with Petrobras

ID: 482118

(Thomson Reuters ONE) -


Prosafe has signed contract amendments and an extension with Petrobras
Netherlands B.V. (Petrobras). The semi-submersible accommodation vessel Safe
Eurus will now be substituted by her sister vessel Safe Notos and will commence
its contract with Petrobras at an earlier date within Q4 2016. The commencement
of operations had previously been agreed to be within Q1 2017. In addition the
original contract will now be extended from the original duration of 3 years by
an additional 222 days. The total value of the extended Safe Notos contract is
now approximately USD 189 million.

As part of the same agreement, Prosafe has agreed a dayrate reduction of
approximately 14 per cent for the Safe Concordia from Q2 2016 and provide
Petrobras the option to early terminate the Safe Concordia contract on
commencement of Safe Notos operations.

The Safe Notos was delivered in February 2016 and is a technologically advanced
and efficient Dynamically Positioned (DP3), harsh environment semi-submersible
safety and maintenance support vessel, able to accommodate up to 500 persons
with extensive recreation facilities, and capable of supporting construction
projects using a large deck area and capable cranes. The Safe Notos has been
undergoing final preparatory works offshore Singapore to ensure full compliance
with Petrobras requirements and in July will commence the transit to Brazil
where the final approval processes will be conducted for commencement of
operations within Q4 2016.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. The company operates globally 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, 7 July 2016
Georgina Georgiou, General Manager




Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Acting CEO and CFO
Prosafe Management AS
Phone: +47 51 64 25 17 / +47 478 07 813



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This information is subject to 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#2027080]




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Bereitgestellt von Benutzer: hugin
Datum: 07.07.2016 - 17:12 Uhr
Sprache: Deutsch
News-ID 482118
Anzahl Zeichen: 2961

contact information:
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Larnaca



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