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    Prosafe sees challenging market ahead

    Company News // August 24, 2015

    Accommodation unit provider Prosafe says the oil and gas services market "remains challenging," and in the current lower oil price environment, the company has seen prospects being deferred or work scopes being reduced.

    However, Prosafe has been awarded several new contracts and extensions, resulting in improved short term revenue visibility.

    "Set against this relatively robust short term outlook, uncertainty remains in respect of the medium term," said the company. "Nevertheless, the company should be well placed to continue to take advantage of market conditions in the longer term."

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