Skip to main content

Prosafe SE: Operational and financial update Q2 2021

Written by Customer Service on . Posted in Public Companies.

Operational
The fleet utilisation rate in the second quarter of 2021 was 65.8 per cent (Q2 2020: 6.5 per cent).

Safe Zephyrus continued the contract for Shell at the Shearwater platform in the UK and was in full operation throughout the quarter. The contract initially had a firm period of 145 days and has to date been extended by the client by additional 16 days.

Safe Caledonia has been operating for TotalEnergies at the Elgin platform in the UK since 30 March 2021 and was fully utilised in the quarter. The contract has a firm duration of 162 days and two 15-day options, of which the first available option was exercised on 29 July 2021.

Safe Boreas has been operating for CNOOC at Buzzard in the UK since 20 April 2021. After two of the three 30-day options were exercised on 9 July 2021, the contract now has a firm duration of 160 days.

Safe Eurus has been providing safety and maintenance support to Petrobras during a three-year contract since November 2019 and was in full operation throughout the quarter.

Safe Notos has been operating for Petrobras in Brazil throughout this quarter. The vessel is on contract until mid-November 2021.

Safe Concordia has been preparing for a 117-day contract in Trinidad and Tobago and has been on hire since 25 July 2021.

Safe Scandinavia was idle in the quarter and is laid up in Norway. Regalia was sold for recycling in April 2021.

The impact from Covid-19 on the macro environment has been challenging, with the company also experiencing cases in the fleet. In all instances there has been close coordination with the client to ensure that any occurrence is dealt with promptly and effectively. Safety measures at workplaces and vessels to protect people and assets remain rigorously in place.

Financial
Please refer to a number of separate press releases, the latest dated 2 August, regarding a long-term financial solution for the company. The implementation in Singapore is on track with support from a very significant majority of the lenders.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

Stavanger, 3 August 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Phone: +47 51 64 25 17 / +47 478 07 813

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.