Prosafe Announces Management Changes

Prosafe SE has during the recent years had a strong international growth. The company is the world's leading owner and operator of semi-submersible accommodation and service rigs, and owns and operates 12 accommodation/ service rigs. Further, Prosafe owns/operates six FPSOs/FSOs and has two FPSOs under installation in New Zealand and Brazil, respectively. The company is also pursuing several FPSO projects.

The business units Floating Production and Offshore Support Services are headquartered in Singapore. To strengthen the group's focus on growth and further development of the business units, Prosafe has decided to establish the position of Chief Operating Officer (COO). Consequently, the following reorganization of corporate management will be implemented with immediate effect:

--Exec. V.P. and CFO, Bjorn Henriksen will assume the position as COO.
--Exec. V.P. Corporate Business Development, Roy Hallas will assume the position as President of Floating Production.
--President of Floating Production, Hugh Parry will assume the position as Exec. V.P. Special Projects. His work will involve both projects within Floating Production and on a corporate level.
--V.P. Finance and Treasury, Karl Ronny Klungtvedt will assume the position as Exec. V.P. and CFO in Prosafe SE.

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