Prosafe lays up two more flotels

Prosafe, an owner and operator of semi-submersible accommodation vessels known as flotels, laid up two more units during the third quarter of 2016. 

In an operational update on Friday, Prosafe said that the 1982-built flotel Safe Caledonia completed its operation for BP in August and the vessel has been laid-up in UK since then.

BP hired the unit with a firm period of 13 months in 2013 to provide accommodation support at the Eastern Trough Area Project (ETAP) in the UK sector of the North Sea. The contract had started in mid-2015.

Further, the 1982-built Safe Regency transited from Aruba in the second quarter and was laid-up in Curaçao during the third quarter.

In addition, the company said that the 1985-built Regalia operated for Shell in the UK from beginning of August until mid-October. The vessel started the contract with Shell in late May.

The company also has its flotel Safe Bristolia cold-stacked in Norway, Safe Astoria cold-stacked in Batam, Indonesia, and Safe Lancia is cold-stacked in Port Isabel, Texas USA.

Prosafe also reported on Friday that its 2015-built accommodation vessel Safe Boreas continued the contract with Repsol Sinopec, formerly Talisman Sinopec, in UK and was in full operation throughout the quarter. Repsol Sinopec has exercised the first 14-day option at a discounted day rate, extending the contract at Montrose into December.

The company further said that the newbuild vessel Safe Zephyrus, delivered from the yard in the first quarter of 2016, started the contract with Det norske in Norway late July and was in operation throughout August and September.

Prosafe’s other newbuild flotel Safe Notos, which was delivered from COSCO, (Qidong) in the first quarter of 2016, remained in transit to Brazil and is scheduled to start a contract with Petrobras in late November.

The company’s fleet utilization rate in the third quarter of 2016 jumped to 52 percent when compared to utilization rate of 41 percent in the previous quarter this year but declined when compared to 81 percent rate in the third quarter of 2015.

Offshore Energy Today Staff