Prosafe Drilling Services AS, a wholly owned subsidiary of Prosafe ASA, has received confirmation that Statoil exercises the first of three one year options for platform drilling on Heidrun. The option period lasts from 1 June 2002 to 31 May 2003, and has an estimated value of about MNOK 100. Further 2 x 1 year option periods remains.
Prosafe Drilling Services has been engaged on Heidrun for Statoil since 1996, after first having accomplished a project and planning phase since the contract was awarded in 1994. Prosafe views this option exercise as yet another confirmation of the strong position the company holds within the platform drilling segment on the Norwegian Continental Shelf.
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 NOK 2,5 billion in 2000. The company employs approx. 1.800 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.prosafecorp.com.
Tananger, 7 December 2001
For further information, please contact:
Arne Austreid
President Prosafe ASA
Telephone : +47 900 77 334
Stig Christiansen
CFO Prosafe ASA
Telephone : +47 900 85 961
Petter Tomren
President Prosafe Drilling Services
Telephone: +47 55 98 68 00