Prosafe refers to the press release dated 9 September 2003, and informs that MSV Regalia now is on location at the Statfjord field.
The rig left the CCB base in Bergen on 27 September 2003, somewhat later than earlier assumed. The delay was due to extensive final testing of vital equipment. The rig has been on hire from 29 September 2003. Prosafe anticipates that the well intervention of four wells, whereof one well at Statfjord, one well at Visund and two wells at Åsgard, will take about 30 days.
Prosafe estimates that there will be a negative impact on the result before depreciation of about USD 3.5 million as from the mobilisation in mid-August until the demobilisation. The reasons for this are delays and extraordinary mobilisation costs due to technological challenges.
Prosafe is the world's leading owner and operator of semi- submersible service rigs, a leading platform drilling contractor in the North Sea and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached NOK 2.9 billion in 2002. 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.prosafe.com.
Tananger, 30 September 2003