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October 19, 2015 Prosafe SE: Operational update Q3 2015The fleet utilisation rate in the third quarter of 2015 was 81 per cent. Regalia, Safe Bristolia, Safe Concordia and Safe Boreas were fully contracted in the North Sea during the quarter. Safe Regency, Safe Lancia, Safe Hibernia and Safe Britannia were fully contracted in Mexico throughout the quarter. Prosafe has been informed that Pemex is indicating that payment terms will be up to 180 days until further notice from September 2015. Safe Caledonia commenced on contract in the UKCS early July 2015. Safe Astoria completed her contract at the Malampaya facility with Shell Philippines in early September and was on transit dayrate until mid-September. Safe Astoria is now located in Batam, Indonesia, undergoing minor works. The conversion of Safe Scandinavia to a Tender Support Vessel at the Westcon yard in Ølensvåg, Norway, continued during the third quarter. The commencement offshore at Oseberg East for Statoil is expected towards the end of the fourth quarter of 2015. Jasminia remains off-hire and is located offshore Mexico. Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 248.3 million in 2014 and net profit was USD 178.8 million. The company operates globally, employs 800 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, 19 October 2015 Cecilie Helland Ouff, Senior Manager Finance and Investor Relations This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. |