Statoil exercises option for maintenance and modification on Heidrun

Statoil has exercised an option and awarded Procon Drilling Services AS, a wholly owned subsidiary of ProSafe ASA, the maintenance and modification contract on the Heidrun platform. The contract period lasts from 1 July 2001 to 31 December 2002, and the contract value is approx. MNOK 100. Procon Drilling Services has been working for Statoil on Heidrun since 1995. ProSafe views this contract award as yet another confirmation of the strong position the company holds within the platform market on the Norwegian Continental Shelf. ProSafe is the worlds leading owner and operator of semi submersible service rigs and the largest platform drilling contractor on the Norwegian Continental Shelf. ProSafe is also a major player within the floating production market outside the North Sea. ProSafe is listed on the Oslo Stock Exchange with ticker code PRS.