This contract extension is the fourth and last 30-day extension to SNEPCO under its existing contract for the use of the Safe Caledonia.
The extension takes the ongoing contract through to November 2, 2005.
Prosafe has now secured a fleet utilisation of about 89% in 2005. Long-term market prospects for accommodation and service rigs are also positive, and the business division has already now secured a fleet utilisation of 82.5% in 2006, 62.5% in 2007 and 34% in 2008.
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