Skip to main content

Prosafe SE: Operational update Q4 2021

Written by Customer Service on . Posted in Public Companies.

The fleet utilisation rate in the fourth quarter of 2021 was 59.3 per cent (Q4 2020: 25.0 per cent). The fleet utilisation for the year was 54.5 per cent (2020: 20.4 per cent), the highest utilisation rate since 2015.

Safe Zephyrus was in the yard in Norway preparing for the start-up of a contract for BP in Q1 2022. The vessel will be supporting the Seagull project at ETAP in the UK North Sea for a 10-month contract with up to four months of options.

Safe Caledonia was operating for TotalEnergies at the Elgin platform in the UK until 29 October 2021. The vessel is currently alongside the Elgin platform on a standby rate and will resume operations in March 2022, taking the firm operational period through to December 2022.

Safe Boreas completed the contract for CNOOC at Buzzard in the UK on 14 October 2021. Thereafter, the vessel was taken to yard to prepare for the ConocoPhillips contract at Ekofisk starting in Q2 2022. This contract has a firm duration of three months and two additional one-month options.

Safe Eurus has been providing safety and maintenance support to Petrobras in Brazil since November 2019 and was in full operation in the quarter. The contract has a firm duration until March 2023, with additional two-years of mutual optionality.

Safe Notos has been operating for Petrobras in Brazil throughout the quarter. The original three-year and 222 days firm period has previously been extended through to mid-November 2021. On 5 November 2021, the contract was further extended taking the firm operational period through to mid-July 2022.

Safe Concordia commenced a 117-day contract in Trinidad and Tobago on 25 July 2021 and has been in full operation since then. The client has extended a number of options, taking the current operational period through to mid-March 2022.

Safe Scandinavia was idle in the quarter and is laid up in Norway.

The impact from Covid-19 on the macro environment has been challenging, with the company also experiencing isolated 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.

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 https://www.prosafe.com

Stavanger, 21 January 2022
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.