Prosafe takes its share of Dan Swift flotel

Axis Offshore has completed the sale of shares in flotel Dan Swift to the offshore accommodation specialist Prosafe. 

Axis and Prosafe inked a letter of intent in November for the potential sale of two new harsh-environment semi-submersible accommodation rigs, the Axis Nova and the Axis Vega, and for 25% interest in Axis Offshore’s monohull unit, Dan Swift.

On December 13 Axis executed a definitive agreement with Prosafe regarding the sale of two new flotels and shares in Dan Swift. The acquisition of Axis Nova and Axis Vega was completed on December 16.

The sale of the Dan Swift shares was completed on Thursday, December 29. For the sale of the Dan Swift shares, Axis has received as in-kind consideration subordinated zero coupon convertible bonds in the total amount of NOK 82,737,000, convertible into 2,757,900 shares at a conversion price of NOK 30 per share.

Dan Swift is a mono-hull flotel equipped with DP2 system, two offshore telescopic gangways, large cranes, a helideck and flexible workshop and storage areas. With a capacity for around 300 POB, the Dan Swift is used for installation, services and maintenance, and decommissioning offshore. Dan Swift has previously worked for Statoil, Shell, and Petrobras.

The flotel’s latest contract was with Petrobras in Brazil. The five-year contract expired in July this year. Axis said in June that, following the expiry, the flotel would be drydocked.

According to the latest AIS data, the unit is currently moored in Aalborg, Denmark.

Offshore Energy Today Staff