Prosafe Enters LOI for Tender Support Operations

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 commence 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 commence within Q1 2015.

Prosafe, March 17, 2014