Prosafe Sells Jack-Up Unit to Asian Client

Prosafe Rigs Pte Ltd, a wholly owned subsidiary of Prosafe SE, has signed an agreement to sell the accommodation jack-up Safe Esbjerg to a customer in South East Asia.

Total proceeds amount to USD 55 million and are divided into two tranches. USD 38.5 million is payable within 60 days after closing, which took place on 7 August. The remaining USD 16.5 million will be paid as a three-year term loan with an interest rate of 10 per cent.

Safe Esbjerg is a Le Tourneau 82-S designed 3 leg triangular jack-up accommodation unit capable of working in harsh environments in water depths up to 50m.

It was built in 1975 at Marathon LeTourneau in Vicksburg, USA as production jack-up unit. It was converted to an accommodation unit at Dubai Dry Docks in 2005.  Safe Esbjerg offers accommodation for 139 offshore personnel including facilities for recreation, messing, catering, offices and plant areas.

“The divestment of the Safe Esbjerg is in line with Prosafe’s strategy of focusing on growth within the high end of the offshore accommodation industry,” said Prosafe in a press release.

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Offshore Energy Today Staff, August 7, 2012