Rig utilisation in the second quarter of 2013 was 84 per cent. Safe Caledonia, Safe Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe Regency were on contract throughout the quarter.
Safe Concordia is operating on a long-term contract in Brazil. In the second quarter, the average effective day rate was approximately USD 144,000.
Safe Scandinavia commenced the contract with ConocoPhillips at Jasmine in UK on 6 April and has been in operation since then.
Regalia commenced operation for Shell at the Draugen field in Norway on 30 April and was in operation throughout May and June. Due to the yard stay before contract commencement, operating expenses in the second quarter were about USD 2 million higher than in normal operation. Shell has exercised the one-month option, extending the contract at Draugen throughout October 2013. In addition, Prosafe has granted Shell an additional 14-day extension option.
Safe Bristolia commenced the contract for Elf Exploration UK on 3 May. Due to the yard stay and preparation for contract commencement in the North Sea, operating expenses in the second quarter were about USD 4.5 million higher than in normal operation.
Safe Astoria remained at the yard in Batam, Indonesia throughout the second quarter.
Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. 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. For more information, please refer to www.prosafe.com.
Larnaca, 30 July 2013
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673
Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20