Prosafe SE

Prosafe SE: Prosafe secures a contract on the Norwegian Continental Shelf in 2022

Prosafe has been awarded a contract by ConocoPhillips Skandinavia AS to provide

accommodation support using either the Safe Boreas or Safe Zephyrus on the

Ekofisk field in relation to the tie-in of the Tommeliten Alpha field

development.

The firm duration of the contract is 90 days, commencing Q2 2022, with an option

of up to 60 days. Total value of the contract, excluding the option period, is

approximately USD 13.6 million. The contract has cancellation charges that apply

if the Tommeliten Alpha plan for development and operation (PDO) is not approved

by Norwegian authorities.

Jesper Kragh Andresen, CEO of Prosafe says: "Prosafe is pleased to have been

awarded a contract in 2022 for operations on the Norwegian Continental Shelf."

Tommeliten Alpha is a discovery in the southern part of the Norwegian sector in

the North Sea, approximately 25 kilometers southwest of the Ekofisk field. The

water depth is approximately 75 meters. The field was discovered in 1977. The

reservoir contains a gas condensate fluid and lies at a depth of approximately

3,000 meters.

Prosafe is a leading owner and operator of semi-submersible accommodation

vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.

For more information, please refer to https://www.prosafe.com

Stavanger, 26 October 2020

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

Phone: +47 51 64 25 17 / +47 478 07 813

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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