Pemex charters Safe Concordia

Consafe Offshore AB has received a contract from Interpetroleum Services Ltd. for charter of the flotel Safe Concordia on Pemex's Cantaraell field for a fixed 12-month period.

Offshore staff

(Mexico) - Consafe Offshore AB has received a contract from Interpetroleum Services Ltd., a subsidiary of Cotemar SA, for a bareboat charter of the flotelSafe Concordia. The semi will be deployed on Pemex's Cantaraell field for a fixed 12-month period, with a 90-day optional extension.

The contract is scheduled to start in early May 2006. Estimated contract value for the fixed portion of the term is approximately $30 million.

"Safe Concordia is a new built semisubmersible flotel, designed together with our Mexican partners to fulfill the needs they have for a modern service and maintenance vessel. The semi's DP system, onboard modern accommodation and construction facilities, meets the client needs and is a competitive alternative," comments Peter Jacobsson, CEO, Consafe Offshore AB.

Safe Concordia has a further commitment for Chevron on the Tahiti project, which is scheduled to begin in the second half of 2007.

Consafe Offshore says it has already secured 77% utilization for its fleet in 2006. To improve this rate, the company is marketingSafe Astoria for the period following completion of its current charter in 2Q 2006.

02/16/06

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