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.

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