Prosafe SE: Prosafe orders two advanced semi-submersible accommodation vessels

Prosafe SE: Prosafe orders two advanced semi-submersible 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 vessels  will 
be the most  advanced and  flexible units for  worldwide operations  excluding 
Norway, and will be ready for operations in 2016.

The vessels 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.

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  570 
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 
www.prosafe.com.

Larnaca, 7 November 2013
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: +4751 64 25 81

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +4751 64 25 20/ +47 991 09467

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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Source: Prosafe SE via Thomson Reuters ONE
HUG#1741374
 
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