Prosafe: ‘Safe Scandinavia’ conversion work hits stumbling block

Safe ScandinaviaProsafe, the owner and operator of semi-submersible accommodation vessels, has informed that the conversion of the semi-submersible accommodation rig Safe Scandinavia into tender support vessel has experienced delays. 

The rig is being converted at the Westcon yard in Ølensvåg, Norway. It arrived at Westcon in March 2015 and the initial plan was for the rig to be ready for delivery in the first half of 2015.

Prosafe reported that the project is experiencing some further delays and the start-up of the contract for Statoil is expected in the fourth quarter of 2015. Once converted, the rig will support Statoil’s drilling operations at Oseberg Øst field in the Norwegian part of the North Sea.

Prosafe added that, as a result of the extended yard stays for Safe Scandinavia and Safe Concordia, as well as further cost increases related to the Safe Bristolia repair work the total capital expenditure for 2015 is expected to increase by 5 to 10 per cent relative to previous guidance.

Prosafe’s fleet utilization

According to Prosafe, the fleet utilisation rate in the second quarter of 2015 was 58 per cent.

Regalia, Safe Astoria, Safe Regency, Safe Lancia and Safe Hibernia were fully contracted during the quarter. Safe Britannia underwent a planned DP upgrade during the second quarter and was off-hire for 30 days. Jasmina is still off-hire after going off contract in late February 2015. Safe Concordia completed a five-year Special Periodic Survey and upgrade works at the Maua Shipyard in Brazil during the quarter. The contract with Petrobras re-started on June 30, 2015. The new-build Safe Boreas arrived in Norway in April. The contract with Lundin Norway AS for support in connection with the hook-up and commissioning of the Edvard Grieg platform in the North Sea started in mid-May. Safe Caledonia was contracted to Nexen Petroleum U.K. until the end of April. The contract with BP Exploration Operating Company Limited for support at the Andrew field in UK started on July 10, 2015.

The contract for Safe Astoria with Shell Philippines Exploration B.V. at the Malampaya field has been extended by another 15 days until mid-August. Safe Bristolia completed repair work at the Hanøytangen shipyard in Norway during the quarter. The contract with BG International Limited for work at the Everest field in UK started on June 1, 2015.

Offshore Energy Today Staff

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