Statoil has awarded Prosafe a contract for the provision of the Safe Zephyrus semisubmersible accommodation vessel for Phase 1 of the Johan Sverdrup hookup and commissioning project in the Norwegian sector of the North Sea.
The contract duration will be one of three scenarios available to Statoil for nomination in early August 2017; either a 12-month firm period from late Q2 2018, or a 12-month firm period from late Q3 2018 with four months of options, or lastly five months firm from late Q2 2018 plus six months of options and four months firm from Q2 2019 plus four months of options.
The value of the contract firm period will be between US$51-53 million, including fuel, mobilization and demobilization depending on the scenario nominated. Revenue generated from the provision of catering services is in excess of the total value.
The contract will provide longevity of operations for the Safe Zephyrus and generate a firm cash flow in a soft market. The combination of building order book and longevity with the retained optionality from other vessels in the fleet represents a balanced situation for Prosafe.
Prosafe was selected by Statoil due to the company’s proven track record with safe and efficient operations, the quality of the Safe Zephyrus and the commercial proposal offered. The Safe Zephyrus provides a total of 450 beds and has high gangway connectivity enabling operability in harsh environments.
“Statoil is a key client and this was a very important contract for the company to win and we anticipate that this will position the Safe Zephyrus well for any additional work at the Johan Sverdrup development,” said Jesper Kragh Andresen, CEO, Prosafe.
Image: Safe Zephyrus/Prosafe