Prosafe SE: Operational update Q1 2015

The fleet utilisation rate in the first quarter of 2015 was 80 per cent. Safe Caledonia, Regalia and Safe Astoria were fully contracted during the first quarter.

The five vessels operating in Mexico had an utilisation rate of 93 per cent in the quarter with Jasminia being off-hire for approximately one month in the quarter. During the first quarter Prosafe was awarded contract extensions in Mexico with a total net value of USD 17.2 million. The Safe Britannia will undergo a planned DP upgrade during the second quarter and will be off-hire for approximately one month.

Safe Concordia is working on a three-year contract with Petrobras in Brazil. In mid-February the vessel went to the Maua shipyard to undergo a five-year Special Periodic Survey.

Safe Scandinavia was on contract with Premier Oil at the Solan field in UK until end February. In March the vessel arrived at Westcon Yards in Ølensvåg, Norway, where she will be converted to a Tender Support Vessel.

Safe Bristolia was at Hanøytangen shipyard for repair work the entire quarter.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 248.3 million in 2014 and net profit was USD 178.8 million. The company operates globally, employs 800 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, 24 April 2015
Georgina Georgiou, General Manager
Prosafe SE


For further information, please contact:

Sven Børre Larsen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 30

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


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