Safe Astoria to Support Shell’s Malampaya Project, Offshore Philippines

Safe Astoria to Support Shell's Malampaya Project, Offshore Philippines

Cyprus-based Prosafe, the world’s leading owner and operator of semi-submersible accommodation/service rigs, has received a Notice of Award for a minimum nine-month contract by Shell Philippines Exploration B.V. (‘SPEX’) for the use of the Safe Astoria unit.

Shell will use the Safe Astoria for accommodation support at the Malampaya Phase 3 Depletion Compression Project offshore Palawan, Philippines.  On site operations are expected to start within Q2/Q3 2014. In addition, Prosafe has granted SPEX three additional one-month options.

SPEX has been given two different contract alternatives to chose from. It can select a structure with 11-month firm period plus options, or 12-month firm period plus options.  Total value of the contract will be between USD 58.1 million and USD 70.5 million depending on which alternative is selected.

Offshore Energy Today Staff, March 12, 2012; Image: Prosafe