Prosafe

(PRS)

Prosafe is a leading provider of accommodation vessels for the global offshore oil and gas industry. The company is headquartered in Larnaca, Cyprus and is listed on the Oslo Stock Exchange with ticker code PRS.

Prosafe owns/operates 11 semi-submersible accommodation vessels, and has 4 new build vessels under construction. Two harsh environment semi-submersible accommodation vessels are being constructed at Jurong Shipyard. Furthermore, Prosafe is building two semi-submersible accommodation vessels at COSCO (Qidong) Offshore Co. Ltd.

Prosafe’s operations are related to maintenance and modification of installations on fields already in production, hook-up and commissioning of new fields, tie-backs to existing infrastructure and decommissioning.

Prosafe was formed in 1997, when the platform drilling and technical services divisions de-merged from Transocean as a separate company and became listed on the Oslo Stock Exchange as Procon Offshore ASA. This company merged with Safe Offshore ASA, thereby entering the business segment of accommodation/service rigs, and changed its name to Prosafe ASA.

Prosafe SE on November 10, 2016 concerning the letter of intent with Axis Offshore Pte. Ltd. for the potential acquisition of all outstanding shares in the two single purpose companies Axis Nova Singapore Pte. Ltd. and Axis Vega Singapore Pte. Ltd., and 25% of the shares in Dan Swift (Singapore) Pte. Ltd