Statoil Petroleum AS has awarded Prosafe a contract for the provision of the Safe Zephyrus semi-submersible accommodation vessel for Phase 1 of the Johan Sverdrup hook-up and commissioning project in the Norwegian sector of the North Sea.
The contract duration will be one of three scenarios available to Statoil for nomination in early August 2017; either a 12 month firm period from late Q2 2018, or a 12 month firm period from late Q3 2018 with 4 months of options, or lastly 5 months firm from late Q2 2018 plus 6 months of options and 4 months firm from Q2 2019 plus 4 months of options.
The value of the contract firm period will be between MUSD 51 and MUSD 53 including fuel, mobilisation and demobilisation depending on the scenario nominated. Revenue generated from the provision of catering services is in excess of the total value.
The contract will provide longevity of operations for the Safe Zephyrus and generate a firm cash flow in a soft market. The combination of building order book and longevity with the retained optionality from other vessels in the fleet represents a balanced situation for Prosafe.
Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo Stock Exchange with ticker code PRS.