Prosafe SE: Delivery of Safe Notos

Prosafe has taken delivery of the Safe Notos on 4 February 2016 as part of its fleet renewal strategy. Safe Notos will be the most advanced and flexible vessel for worldwide operations excluding Norway. The vessel was delivered on time and on budget.

Delivery was taken only 26.5 months after contract signing. To our knowledge, this is the fastest semi-submersible build project since the 1980's and the fastest out of China ever.

In connection with the delivery, Prosafe has drawn USD 144 million of its committed credit facility. The final delivery instalment was reduced by USD 29 million, by way of a seller's credit from Cosco (Qidong) Offshore Co., Ltd., repayable in a single payment by 31 December 2016, which results in increased liquidity for the company.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 167 million in 2015 and net profit was USD 85.6 million. The company operates globally, employs 850 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, 5 February 2016
Georgina Georgiou, General Manager
Prosafe SE


For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 00

Stig Harry Christiansen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 17

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20