Prosafe Rigs Limited, a wholly owned subsidiary of Prosafe ASA, has been awarded a contract extension of 30 days commencing from 5 August 2005 for SNEPCO (Shell Nigeria Exploration & Production Company) for the use of Safe Caledonia for DP (dynamic positioning) hook-up/construction support to the FPSO Bonga in Nigeria.
This is the second of four possible 30-day extensions available to SNEPCO under its existing contract for the use of the Safe Caledonia. The remaining options must be declared three months in advance.
Prosafe has now secured a fleet utilisation of about 86% in 2005. Long-term market prospects for accommodation and service rigs are also positive, and the business division has already now secured a fleet utilisation of 82.5% in 2006, 62.5% in 2007 and 34% in 2008.