Prosafe, Shell Extend Safe Astoria's Contact at the Malampaya Project

Prosafe disclosed Monday that the company and Shell Philippines Exploration B.V. (SPEX) have agreed a one month extension to the firm period for the provision of the Safe Astoria accommodation support vessel at the Malampaya Phase 3 Depletion Compression Project offshore Philippines.

Total value of the firm extension period is approximately $5 million.

Prosafe is the world's leading owner and operator of semisubmersible accommodation vessels. Operating profit reached $248.3 million in 2014 and net profit was $178.8 million. The company operates globally, employs 800 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange.

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