Prosafe SE: Prosafe and Total agree to defer 2020 North Sea campaign

Prosafe and Total E&P UK Limited (‘Total’) have agreed to defer the commencement date for the Safe Caledonia to provide accommodation support at the Elgin complex in the UK sector of the North Sea by one year.

The firm duration of the contract now commences around late Q1 2021 and remains as 162 days with one 30-day option. In addition, there will be a deferral fee payable by Total.

Jesper Kragh Andresen, CEO of Prosafe says: "This contract remains important for both Prosafe and Total, even as we face a time of unprecedented challenge.”

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, 17 April 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