Prosafe SE: Safe Boreas contract extended

Repsol Sinopec Resources UK Limited (formerly Talisman Sinopec Energy UK Limited) has exercised options to extend the charter of the Safe Boreas by a total of 44 days.

In mid-March 2016, the Safe Boreas commenced a 245-day firm operational period at Montrose A in the UK sector of the North Sea. The firm operational period will now continue through 6 January 2017 with Prosafe agreeing to reduce the option periods' day rate consistent with market conditions. Repsol Sinopec can further extend the operations of the Safe Boreas by weekly options.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

Larnaca, 9 November 2016
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Acting CEO
Prosafe Management AS
Phone: +47 51 64 25 17 / +47 478 07 813

Robin Laird, Acting CFO
Prosafe Offshore Services Pte Limited
Phone: +65 65 59 19 90 / +65 81 27 21 01

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

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