Contract for MSV Regalia at MCP-01
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[December 27, 2007]

Contract for MSV Regalia at MCP-01

(Hugin Via Thomson Dialog NewsEdge) Prosafe has been awarded a contract by Aker Kvarner Offshore Partner AS for the provision of the MSV Regalia accommodation and construction support rig at the TOTAL E&P UK operated platform MCP-01 in the British sector of the North Sea. This contract confirms the Letter Of Intent (LOI) which was signed between Prosafe and Aker Kvarner Offshore Partners in March this year originally for a firm period of seven months with an additional one month option.



The agreed contract calls for a firm utilisation period of nine months and three weeks with an additional three weeks option. The MSV Regalia will commence on-site operations in January 2008.

Total value of the contract excluding the option period is about USD 63 million.



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. Operating profit reached USD 150 million in 2006. The company operates globally and employs approx. 1,400 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, 27 December 2007 Prosafe SE

For further information please contact:

Arne Austreid, President and CEO Phone no: +357 992 75 030

Karl Ronny Klungtvedt, Exec. Vice President and CFO Phone no: +357 996 88 169

Robin Laird, President Offshore Support Services Phone no: +65 6559 1980 / +65 8127 2101

Copyright 2007 Hugin ASA (publisher previously given as Hugin AS, Inc) , Source: The Financial Times Limited

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