Prosafe secures a contract on the Norwegian Continental Shelf in 2022

Prosafe has been awarded a contract by ConocoPhillips Skandinavia AS to provide accommodation support using either the Safe Boreas or Safe Zephyrus on the Ekofisk field in relation to the tie-in of the Tommeliten Alpha field development.

The firm duration of the contract is 90 days, commencing Q2 2022, with an option of up to 60 days. Total value of the contract, excluding the option period, is approximately USD 13.6 million. The contract has cancellation charges that apply if the Tommeliten Alpha plan for development and operation (PDO) is not approved by Norwegian authorities.

Jesper Kragh Andresen, CEO of Prosafe says: “Prosafe is pleased to have been awarded a contract in 2022 for operations on the Norwegian Continental Shelf.”

Tommeliten Alpha is a discovery in the southern part of the Norwegian sector in the North Sea, approximately 25 kilometers southwest of the Ekofisk field. The water depth is approximately 75 meters. The field was discovered in 1977. The reservoir contains a gas condensate fluid and lies at a depth of approximately 3,000 meters.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

Stavanger, 26 October 2020
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Phone: +47 51 64 25 17 / +47 478 07 813

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