This is the second of four possible 30-day extensions available to SNEPCO under its existing contract for the use of the Safe Caledonia. The remaining options must be declared three months in advance.
Prosafe has now secured a fleet utilization of about 86% in 2005. Long-term market prospects for accommodation and service rigs are also positive, and the business division has already now secured a fleet utilization of 82.5% in 2006, 62.5% in 2007 and 34% in 2008.
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