Prosafe SE

Regulatory Filings • Mar 17, 2016

Prosafe SE: Safe Scandinavia commenced contract

Prosafe SE: Safe Scandinavia commenced contract

Reference is made to the press release dated 14th March. Safe Scandinavia has

today commenced the contract for Statoil at the Oseberg Øst installation in

Norway.

Prosafe is responsible for the provision of mud services to the Oseberg Øst

installation together with all marine operations of the tender support vessel

(TSV). Safe Scandinavia will continue to perform accommodation duties to support

the installation via a telescopic gangway, affording the maximum flexibility to

Statoil.

Prosafe is the world's leading owner and operator of semi-submersible

accommodation vessels. Operating profit reached USD 167 million in 2015 and net

profit was USD 85.6 million. The company operates globally, employs 850 people

and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock

Exchange with ticker code PRS. For more information, please refer to

www.prosafe.com

Larnaca, 17 March 2016

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer

Prosafe Management AS

Phone: + 47 51 64 25 00

Stig Harry Christiansen, Chief Financial Officer

Prosafe Management AS

Phone: +47 51 64 25 17

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 991 09 467

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1995731]