Prosafe Awarded Contract for Safe Britannia

Prosafe has won a 300-day contract from Ocean Oil Construction and Services Ltd for the use of the semisubmersible service rig Safe Britannia on the Cantarell field.

The bareboat contract, which has a total value of USD $20.6 million includes compensation for the leading Prosafe personnel on board. The contract is set to commence on October 15, 2001. This contract award demonstrates the strength of the demand for this type of rigs. The contract is the fifth service rig contract that Prosafe has won this year.