Prosafe Awarded Contract Extension for Safe Caledonia

Prosafe has been awarded a 30-day contract extension effective July 6, 2005 from SNEPCO (Shell Nigeria Exploration & Production Company) for the use of Safe Caledonia for DP hook-up/construction support to the FPSO Bonga in Nigeria.

The contract extension for the Safe Caledonia is the first 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.

Total contract value for the nominated extension period is about US $2.7 million.