Prosafe Wins Two North Sea Contracts

December 21, 2018

Regalia (Photo: Prosafe)
Regalia (Photo: Prosafe)

Semi-sub owner and operator Prosafe said it has been awarded two contracts for operations in the U.K. sector of the North Sea.

The Regalia has been chartered for a 60-day duration commencing June 2019, and the Safe Caledonia has been chartered for an 80-day duration commencing June 2020. Both contracts have 30 days of options linked to the firm periods.

The Regalia will be reactivated to perform gangway connected DP operations and is as a result of tightening supply in the North Sea. The reactivation period will commence within the first quarter of 2019 and include her five yearly special periodic survey in line with classification society requirements.

The Safe Caledonia will be providing accommodation services in support of a platform turnaround, scheduled to coincide with the Forties pipeline system (FPS) shutdown in mid-June 2020. Prosafe has pre-agreed optionality with the client to substitute the Safe Caledonia with another vessel in its fleet if it so choses.

Total value of the contracts including mobilization and demobilization fees, although excluding the option periods, is approximately $23 million, Prosafe said.

Jesper Kragh Andresen, CEO of Prosafe said, “Reactivation of the Regalia was always a consideration and this award pays for the workscope and allows the vessel to be ready at short notice for future opportunities in both U.K. and Norway. In 2020, Prosafe will play an important role in the delivery of the turnaround, and with the vessel optionality, Prosafe has flexibility to maximize on opportunities.”

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