Cyprus: Prosafe’s Flotel Utilisation at 83.3 pct

Cyprus Prosafe's Flotel Utilisation at 83.3 pct

Prosafe, the world’s leading owner and operator of semi-submersible accommodation rigs (flotels), announced that rig utilisation in the first quarter of 2012 was 83.3 per cent.

Regalia, Safe Scandinavia, Safe Caledonia, Safe Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia, Safe Regency and Safe Bristolia have been fully utilised in the first quarter.

The dayrate for Safe Concordia is subject to monthly adjustments based on currency exchange movements. In the first quarter, the average effective dayrate was USD 144,500.

Safe Astoria remained at the yard throughout the first quarter, preparing for operations in Australia scheduled to commence in late May. Operating expenses for the rig amounted to USD 5.5 million in the quarter. This is considerably higher than in normal operations due to expenses relating to the contract preparations and a more intensive maintenance scheme while the rig is at the yard. Safe Esbjerg was idle in the first quarter.

Source: Prosafe, April 27, 2012