Sakhalin Energy gets LOI for Safe Astoria

Sakhalin Energy Investment Co. Ltd. has awarded Prosafe a letter of intent (LOI) for the Safe Astoria accommodation support rig offshore Sakhalin Island in the Russian Federation.

Offshore staff

LARNACA, Cyprus -- Sakhalin Energy Investment Co. Ltd. has awarded Prosafe a letter of intent (LOI) for the Safe Astoria accommodation support rig offshore Sakhalin Island in the Russian Federation. The firm duration of the contract linked to the LOI is for two years with a one-year option. The Safe Astoria will prepare for the contract and transit to site for operations beginning in May 2008.

Total $67-million contract will provide for a seamless transition from the vessel's current operations.

10/15/2007

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