PROD - Prosafe Production Public Limited to evaluate strategic alternatives

The board of directors (the “Board”) of Prosafe Production Public Limited (the “Company”) has been notified that BW Offshore Limited intends to put forward a voluntary offer for all outstanding shares of the Company.

PROD - Prosafe Production Minutes of Annual General Meeting 2010

The Annual General Meeting of Prosafe Production Public Limited was held today, 11 May, in Cyprus.

PROD - Interim Financial Results Q1 2010

• Operating result before depreciation of USD 56.9 million • All units in operation - FPSO Ningaloo Vision on dayrate from beginning of January • Letter of Intent to sell turret and swivel business

PROD - Proxies for Annual General Meeting 11 May 2010

Reidar Lund, Chairman of Prosafe Production Public Limited, has been appointed to act as proxy without specific voting instructions for a total of 45,646,247 shares, or 17.89 % of the share capital at the annual general meeting to be held 11 May 2010.

AGM 2010 – Recommendation of the Nomination Committee and Voting Instructions

As per notice of April 16, the Annual General Meeting of Prosafe Production will take place at Four Seasons hotel, Ag. Tychonas, Limassol 3313, Cyprus, on Tuesday 11 May 2010 at 13:00 Cyprus time.

PROD – Q1 2010 results to be released on 11 May 2010

Prosafe Production Public Limited will publish its results for the first quarter of 2010 on 11 May. In connection with the release, management will hold a teleconference/webcast the same day at CET 1400 hours. To listen to the presentation there are two options available:

PROD - Prosafe Production Annual Report 2009

The 2009 Prosafe Production annual report is now available.

PROD – Notice of Annual General Meeting 2010

The annual general meeting of Prosafe Production will be held at Four Seasons hotel, Ag. Tychonas, Limassol 3313, Cyprus, on Tuesday 11 May 2010 at 13:00 Cyprus time.

PROD – Mandatory Notification of Trade

Primary insider Helge Ystheim, President of Prosafe Production Sevices Pte. Ltd., on 22 March bought 38,000 shares in Prosafe Production Public Ltd. at a price of NOK 13.39605.

PROD – Mandatory Notification of Trades

The following primary insiders have on 22 March bought shares in Prosafe Production Public Limited:

PROD – Letter of Intent to sell turret and swivel business

Prosafe Production has entered into a Letter of Intent with National Oilwell Varco (NOV) to sell the turret and swivel business for USD 165 million. In addition there will be a deferred payment corresponding to 10% of the sold business’ third-party sales for a period of seven years.

Message from the Nomination Committee to the shareholders in Prosafe Production Public Limited

Prosafe Production Public Limited (the “Company”) has scheduled its annual general meeting of shareholders (the “AGM”) to be held on 11 May 2010. The AGM will, inter alia, address election of directors (the “Directors”) to the Company’s board of directors (the “Board”).

PROD – Interim Financial Statement for the 4th quarter of 2009

Operating revenues for 4th quarter of 2009 were USD 90.4 million compared to USD 71.4 million for the same period in 2008. Operating profit before depreciation amounted to USD 50.4 million (USD 35.8 million) for the fourth quarter. The main reason for the increase is FDPSO Azurite and FPSO Cidade de São Mateus which commenced operations during 2009. This was partly offset by the scheduled decline in the dayrate for FPSO Umuroa.

PROD – Q4 2009 results to be released on 16 February 2010

Prosafe Production Public Limited will publish its results for the fourth quarter of 2009 on 16 February. In connection with the release, management will hold a teleconference/webcast the same day at CET 1400 hours. To listen to the presentation there are two options available:

FSO Endeavor has resumed operations

FSO Endeavor on 24 January commenced the 12-month contract extension on the PY-3 field in India after undergoing repair work paid by the client Aban Offshore. The vessel has been off hire since the original contract expired in July last year. The gross value of the extension is approximately USD 7 million.

Höegh LNG and Prosafe Production team up for the LNG FPSO segment

Höegh LNG and Prosafe Production have today executed an MOU for the long term cooperation within the LNG FPSO segment. The cooperation will use as its basis the FEED work already developed by Höegh LNG , and for each specific project Höegh LNG will be responsible for design, project execution, completion, operation and funding, whilst Prosafe Production will, in cooperation with HLNG, be responsible for the operation and maintenance of the LNG FPSO’s, and assisting Höegh LNG during project execution and completion.

PROD – FPSO Ningaloo Vision en route to Australia

FPSO Ningaloo Vision left Singapore this morning, and is now en route to Australia, where she is expected to arrive towards the end of December. The sail-away was postponed from late November due to technical challenges on one of the top-side packages.

PROD – Financial Calendar 2010

Prosafe Production will report quarterly financial statements on the following dates in 2010:

PROD – Interim financial statement for the 3rd quarter of 2009

Prosafe Production has an operating result before deprecation of USD 50.5 million for the 3rd quarter of 2009, which is a substantial improvement compared to previous quarters. The company reports that the contract for FPSO Cidade de São Mateus did commence with effect from 3 October and that contracts for FSO Endeavor and FSO Madura Jaya both have been extended. The FPSO Ningaloo Vision left the yard in late September and is expected to arrive at the field in Australia during November.

PROD: Q3 2009 results to be released on 4 November 2009

Prosafe Production Public Limited will release its results for the third quarter of 2009 before CET 0900 hours on 4 November. Bjørn Henriksen, President & CEO and Sven Børre Larsen, Executive VP & CFO will the same day at CET 1400 hours give a presentation of the results at the Hotel Continental, Stortingsgt. 24/26 in Oslo.

PROD - Interim Financial Statement for Q2 2009

• Operating result before depreciation of USD 47.2 million • First oil achieved on FDPSO Azurite • FPSO Cidade de São Mateus on availability rate for the majority of the quarter • FPSO Ningaloo Vision on track for sail-away in September

Q2 2009 results to be released on 26 August 2009

Prosafe Production Public Limited will release its results for the second quarter of 2009 before CET 0900 hours on 26 August.

PROD - Synthetic options

The Board of Prosafe Production Public Limited has resolved to grant management and key employees of the company synthetic call options with a strike price of NOK 12.09, corresponding to the average closing share price 14 - 20 May 2009. The options have a vesting period of two years, four years maturity, as well as a cap mechanism resulting in a maximum payout equal to the strike price.

Prosafe Production Q1 2009 result

Operating revenues amounted to USD 60.6 million (USD 56.6 million) for the 1st quarter of 2009. Operating profit for the 1st quarter was USD 23.0 million (USD 22.1 million).

Proxies for annual general meeting 13 May 2009

Reidar Lund, Chairman of Prosafe Production Public Limited, has been appointed to act as proxy without specific voting instructions for a total of 42,704,213 shares, or 16.73 % of the share capital at the annual general meeting to be held 13 May 2009. The proxies are valid for this annual general meeting only.

Prosafe Production minutes of annual general meeting

The annual general meeting of Prosafe Production Public Limited was held today, 13 May, in Cyprus. Please see the attached document for the minutes of the meeting.

Q1 2009 preliminary results to be released on May 14, 2009

Prosafe Production Public Limited will release its preliminary results for Q1 2009 before CET 0900 hours on May 14.

Prosafe Production exhibiting in offshore technology conference 2009

Prosafe Production will be exhibiting in the 2009 Offshore Technology Conference (OTC) taking place from 4 – 7 May at Reliant Park in Houston, Texas, USA. Current and potential business relations are kindly invited to visit us at booth number 8617 in the Arena.

Prosafe Production notice of general meeting 2009

The annual general meeting of Prosafe Production will be held at Four Seasons hotel, Limassol, Cyprus on Wednesday, 13 May 2009 at 12:30 Cyprus time at Ag. Tychonas, Limassol 33 13, Cyprus. Please find attached the notice of the annual general meeting and the notice of attendance / proxy.

Prosafe Production Annual Report 2008

The 2008 Prosafe Production annual report is now available (see attachment). The report provides detailed information about the company’s business, operational performance, financial performance and statements, corporate governance, and its efforts in the areas of health, safety, the environment and corporate social responsibility.

Fire delays completion of FPSO Ningaloo Vision

The Ningaloo Vision, a Floating Production, Offloading and Storage (FPSO) vessel currently being converted at Keppel Shipyard in Singapore, sustained damage to equipment following an electrical fire in the Instrument and Technical Room on Saturday, 11 April 2009. There was no injury/harm to personnel.