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Prosafe accommodation semi-sub contracted for up to US$100M
A semi-submersible accommodation and maintenance support unit will be transported from northern Europe to Australia in 2025, after a leading owner secured a US$75M-US$100M contract for its charter
Prosafe has secured a contract of up to US$100M, depending on options, to provide a semi-submersible accommodation vessel to support a major offshore oil and gas project in Australia.
The Norwegian owner will mobilise 2015-built, GVA 3000E design accommodation vessel Safe Boreas from the North Sea to Western Australia in Q2 2025 to prepare for the medium-term contract.
The unnamed energy company intends to employ Safe Boreas for a firm period of 15 months, with up to six months of options, to support a project off the coast of Western Australia.
Prior to this contract starting, the accommodation unit, which has single cabins for 450 workers, will undergo its five-year special periodic survey and other maintenance work.
Safe Boreas has dynamic positioning to DP3 class, two 50-tonne cranes, a deck area of more than 1,000 m2 and complies with stringent rules in Australia, Norway and the UK. It is currently laid up in Norway.
Prosafe chief executive Terje Askvig says this contract, and another involving its accommodation semi-submersible Safe Caledonia, has boosted the Oslo-listed company’s backlog at a time when demand is rising for offshore accommodation.
Safe Concordia is operating in the US Gulf of Mexico until the end of 2024. From June 2025, it will be connected to the Captain oilfield in the UK sector of the North Sea for a firm period of six months supporting a long-term maintenance project for Ithaca Energy.
This contract could be extended into Q1 2026, boosting its order value from US$26M for the firm period to US$37M.
“This reflects a tightening accommodation market, which, combined with continued high operational efficiency, positions Prosafe for future growth and increased earnings,” says Mr Askvig.
“Longer term, the accommodation market continues to improve, with good visibility of supply and expected growth in demand led by Brazil. This is driving utilisation back to historically favourable levels.”
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