Reference is made to announcement of 22 March 2010 regarding the Letter of Intent to sell the turret and swivel business to National Oilwell Varco. |
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As a consequence of BW Offshore’s announced intention to present a voluntary offer to acquire all outstanding shares in Prosafe Production Public Limited, National Oilwell Varco has requested an extension of the Letter of Intent until after the announced offer has been concluded and the future ownership structure of Prosafe Production clarified. After careful evaluation, Prosafe Production has decided to grant such an extension, still with the intention to close a transaction during the 3rd quarter. About Prosafe Production
Prosafe Production is a leading owner and operator of Floating Production, Storage and Offloading vessels (FPSOs). Prosafe Production has 25 years of operational experience from several of the world's largest oil and gas provinces. Prosafe Production operates globally and employs approximately 1,000 employees from more than 40 countries. Headquartered in Limassol, Cyprus, Prosafe Production is listed on the Oslo Stock Exchange with ticker code PROD.
Limassol, 30 June 2010 Contacts:
Bjørn Henriksen, President and CEO Phone: +31 6105 32543 E-mail: bjorn.henriksen@prosafeproduction.com
Sven Børre Larsen, Executive VP and CFO Phone: +31 6515 65186 E-mail: sven.larsen@prosafeproduction.com |
