Prosafe Orders Two Offshore Accommodation Vessels

Prosafe has agreed a Letter of Intent (LoI) with COSCO (Qidong) Offshore Co. Ltd. for the Engineering, Procurement and Construction of two semi-submersible accommodation vessels, with options for four further units.

The pair will be the most advanced and flexible units for worldwide operations excluding Norway, and will be ready for operations in 2016. They will be of Gusto MSC’s Ocean 500 design and will be equipped with 500 beds, DP3 station keeping systems, 10-point chain mooring and 300 tonne cranes.

The LoI covers two potential contracts, each in excess of USD 200 million. The vessels will be financed through cash flow from operations, existing debt facilities and new debt commitments.

About Prosafe
The company, a leading owner and operator of semi-submersible accommodation units, operates globally, employs 570 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS.

www.prosafe.com.