Prosafe's MSV Regalia Headed to West Africa

Prosafe has been awarded a Letter of Intent from a major oil company for the use of MSV Regalia for dynamic positioning hook-up/construction support in West Africa. The contract has an estimated duration of six months.

After the upgrades of Safe Regency and Safe Lancia this autumn, Prosafe now has five rigs with DP capabilities.

In combination with the 115 days accommodation contract for Statoil on the Troll field, which was announced on 23rd April 2003, MSV Regalia is now secured contracts for a total of about 295 days in 2004. This represents a utilization rate of 80%. In addition, Statoil holds 60 days of options under the Troll contract.

MSV Regalia is currently at the Asgard field on the Norwegian Continental Shelf, where the rig performs subsea well intervention for Statoil.