Highest utilisation rate for Prosafe fleet since 2015

In 2021, offshore accommodation provider Prosafe saw its vessel utilisation more than double when compared to the previous year and reach the highest rate since 2015.

In an update on Friday, Prosafe reported that its fleet utilisation rate in 4Q of 2021 was 59.3 per cent compared to 25 per cent in 4Q 2020. The fleet utilisation for the year was 54.5 per cent compared to 20.4 per cent in 2020, the highest utilisation rate since 2015. Prosafe also provided an update on the current contract status of its accommodation fleet.

During the last quarter of 2021, the Safe Zephyrus was in the yard in Norway preparing for the start-up of a contract for BP in 1Q 2022. The vessel will be supporting the Seagull project at ETAP in the UK North Sea for a 10-month contract with up to four months of options.

Safe Caledonia was operating for TotalEnergies at the Elgin platform in the UK until 29 October 2021. The vessel is currently alongside the Elgin platform on a standby rate and will resume operations in March 2022, taking the firm operational period through to December 2022.

Safe Boreas completed the contract for CNOOC at Buzzard in the UK on 14 October 2021. After that, the vessel was taken to a yard to prepare for the ConocoPhillips contract at Ekofisk starting in 2Q 2022. This contract has a firm duration of three months and two additional one-month options.

Furthermore, Safe Eurus has been providing safety and maintenance support to Petrobras in Brazil since November 2019 and was in full operation in the quarter. The contract has a firm duration until March 2023, with additional two years of mutual optionality.

In addition, Safe Notos has been operating for Petrobras in Brazil throughout the quarter. The original three-year and 222 days firm period has previously been extended through to mid-November 2021. On 5 November 2021, the contract was further extended taking the firm operational period through to mid-July 2022.

Also, Safe Concordia started a 117-day contract in Trinidad and Tobago on 25 July 2021 and has been in full operation since then. The client has extended a number of options, taking the current operational period through to mid-March 2022.

Finally, Prosafe has one unit which is idle. The Safe Scandinavia was idle in the quarter and is laid up in Norway.

Prosafe also reported that the impact from Covid-19 on the macro environment has been challenging, with the company also experiencing isolated cases in the fleet.

“In all instances, there has been close coordination with the client to ensure that any occurrence is dealt with promptly and effectively. Safety measures at workplaces and vessels to protect people and assets remain rigorously in place,” Prosafe concluded.