Hugh Parry has been employed as Finance Director of Prosafe Production since 1998. He has considerable knowledge and experience of the floating production business.
Prior to joining the group, he was Finance Director of Grindrod Limited, a JSE listed shipping company and freight transport service provider and prior to that a partner in Moore Stephens, Chartered Accountants, London. He is a Chartered Accountant (SA) and has an HDip Tax from the University of Natal, South Africa.
The core business of Prosafe Production is the design, engineering, conversion and operation of FPSO/FSO vessels. Prosafe Production is a leading owner and operator of floating production, storage and offloading vessels outside the North Sea, and currently operates a fleet of six FPSO/FSO units off Africa and Asia. The divisional head office is in Singapore.
Prosafe is the world's leading owner and operator of semi-submersible service rigs, the largest platform drilling contractor in Norway and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached USD 470 million in 2004. The company employs approx. 1,450 people. Prosafe operates in the North Sea, South-East Asia, India, Egypt, West Africa and the Gulf of Mexico. The company is headquartered in Stavanger, Norway. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Tananger, 13 July 2005