Prosafe has been awarded a Letter of Intent (“LoI”) by an undisclosed client for the provision of the Safe Bristolia accommodation support rig at a project in the British sector of the North Sea for a firm period of six months with options totalling four weeks.

The Safe Bristolia will transit to the North Sea from Singapore after demobilising from its current commitment at Sakhalin Island. On-site operations will commence March 2008.

Total value of the LoI excluding the option period is about USD 41 million. The LoI will ensure a high utilisation level of the vessel in 2008 and demonstrates the flexibility of the Prosafe fleet of service and accommodation rigs.