Prosafe SE : Prosafe SE: Operational update for Q1 2013
Rig utilisation in the first quarter of 2013 was 74.4 per cent. Safe
Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe
Regency have been on contract throughout the first quarter.
Safe Bristolia was on bareboat day rate throughout the quarter, including when
mobilising from Mexico to the North Sea. The vessel is scheduled to commence a
contract for Elf Exploration UK in early May. About USD 2.5 million of
expenses related to preparation for the contract in the UK has been incurred
in the first quarter. Safe Bristolia is currently at CCB yard in Bergen,
Safe Concordia is operating on a long-term contract in Brazil. In the first
quarter of 2013 the average effective day rate was approximately USD 141,000.
Safe Caledonia commenced the contract with BP at Andrew in the UK on 2 March.
Safe Scandinavia was in operation for BP at Valhall in Norway until 1 March.
The contract with ConocoPhillips at Jasmine in the UK commenced early April.
After completing the work for Woodside in Australia at year-end 2012, Safe
Astoria was demobilised at a day rate of USD 120,000 for the first 20 days in
January. The total operating cost was about USD 2.6 million in the first
quarter. The vessel is currently laid up in Batam, Indonesia.
Regalia was off-hire and at the yard undertaking planned maintenance work
during the first quarter. Two thrusters were overhauled and the forward crane
was replaced during the yard stay. As a consequence, the operating cost has
been around six million higher than in normal operation in the first quarter.
The vessel is scheduled to commence a contract for Shell at the Draugen field
in Norway end April.
Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. Operating profit reached USD 222.4 million in 2012 and
net profit was USD 177.5 million. The Company operates globally, employs 550
people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo
Stock Exchange with ticker code PRS. For more information, please refer to
Larnaca, 19 April
Georgina Georgiou, General Manager
For further information, please contact:
Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 81
Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 909 43 673
Cecilie Helland Ouff, Finance and IR Manager
Phone: +47 51 64 25 20
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson
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applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Prosafe SE via Thomson Reuters ONE
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