Arne Austreid, President and CEO states: "Prosafe has a clear strategy in place - we will strengthen and continue developing our leading positions in Offshore Support Services and Floating Production. Further, we will retain a strong financial position which gives us a combination of strategic drive and competitive dividend policy.
We have over time delivered solid financial results, and are renowned for our excellent operational performance. Our financial performance is expected to improve considerably over the next two - three years, and we will work determined to obtain an even stronger international presence."
Based on the positive market development, characterised by a strong rig market, high rig dayrates and an all-time high FPSO bidding activity, Prosafe aims to draw benefits from its strong financial position and its resource base of highly competent co-workers in order to ensure further profitable growth.
Prosafe's presentations at the Capital Markets Day can be downloaded from the website www.prosafe.com / Investor information.
Prosafe is the world's leading owner and operator of semi-submersible service rigs and a major owner and operator of floating production and storage vessels outside the North Sea. Operating profit reached USD 103.6 million in 2005. The company operates globally and employs approx. 700 people. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Stavanger, 22 August 2006
For more information, please contact:
Arne Austreid, President and CEO
Phone: +47 51 64 25 81 / +47 900 77 334
Bjørn Henriksen, Exec. Vice President and CFO
Phone: +47 51 64 25 30 / +47 902 52 480