Aker Kvaerner Contracts Prosafe Support Rig in North Sea

Prosafe has been awarded a contract by Aker Kvaerner Offshore Partner AS for the provision of the MSV Regalia accommodation and construction support rig at the Total E&P UK operated platform MCP-01 in the British sector of the North Sea.

This contract confirms the Letter Of Intent (LOI) which was signed between Prosafe and Aker Kvaerner Offshore Partners in March this year originally for a firm period of seven months with an additional one month option.

The agreed contract calls for a firm utilization period of nine months and three weeks with an additional three-week option. The MSV Regalia will commence onsite operations in January 2008.

The total value of the contract, excluding the option period, is about U.S. $63 million.