Statoil Extends Contract for MSV Regalia

Statoil and Prosafe Offshore have agreed on another 14 days work for the service and accommodation rig MSV Regalia at the Troll field in the North Sea.

This means that the rig will continue to work from November 1st and through November 14,2004. The contract value is US $1.68 million.

Prosafe Offshore has now secured a fixed fleet utilization exclusive options of approximately 87% in 2004, 79% in 2005, 82.5% in 2006, 62.5% in 2007 and 34% in 2008. Prosafe maintains a positive view on the prospects within the service and accommodation rig segment.