Prosafe has been awarded a Letter of Intent (LoI) by an undisclosed oil major for the provision of the Safe Scandinavia semi-submersible accommodation vessel temporarily converted for tender support operations at a location on the Norwegian continental shelf.
On site operations are planned to start June 2015, with a firm period of three years. In addition, Prosafe has granted four additional one-year options.
Total value of the firm contract period is approximately USD 443 million, with the value of the options totalling approximately USD 479 million.
The Safe Scandinavia temporary conversion into a tender support vessel (TSV) will start within Q1 2015.
Prosafe is the world’s leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 245.1 million in 2013 and net profit was USD 199.1 million. The company operates globally, employs 610 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS.