Prosafe SE: Contract award for Safe Scandinavia

Prosafe has signed a contract with Aker BP ASA for the Safe Scandinavia to provide accommodation support at the Ula platform in the Norwegian sector of the North Sea. The firm duration of the contract commencing mid-August 2018 is seven months with eight one-month options.

Total value of the contract excluding the option periods is approximately USD 25.5 million. The option periods, if exercised, have a total value of approximately USD 36.7 million.

The contract will ensure employment of the Safe Scandinavia soon after expiry of her previous contract that concluded end-June 2018.

Jesper Kragh Andresen, CEO of Prosafe says: "Prosafe is very pleased with this contract, as it provides employment for the Safe Scandinavia for up to 15 months. We are also proud to again be chosen by Aker BP, this time to deliver first class safe and efficient accommodation services at the Ula platform."

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo Stock Exchange with ticker code PRS.

For more information, please refer to www.prosafe.com

Stavanger, 6 July 2018
Prosafe SE


For further information, please contact:

Jesper K. Andresen, CEO
Prosafe Management AS
Phone: +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Prosafe Management AS
Phone: +47 51 64 25 17 / +47 478 07 813