Prosafe to Provide Flotel Services to Statoil

A letter of intent worth approximately NOK 74 million has been awarded by Statoil to Prosafe Offshore for accommodation services on the Sleipner West field in the North Sea.

The contract, which will be performed by the Safe Scandinavia flotel, has a fixed duration of 77 days and will start at the end of July 2004.

The flotel will be used in connection with the Sleipner West Alpha North compression project.

Statoil can also exercise options with a total duration of up to 61 days. These must be declared by December 31, 2003. If all options are exercised, the total contract value will be approximately NOK 118 million.