Norwegian accommodation vessel group Prosafe (OSLO: PRS) will move out of its office in the Silver Fin Building, Aberdeen after agreeing a lease for space at Kingshill Park.
The company has signed a five-year agreement covering 4,280 sq ft in Pavilion 5 at the park in Westhill, Aberdeenshire.
A statement said the move reflects Prosafe’s commitment to its operations in Aberdeen and a recent increase in commercial activity.
In its results for the first half of the year, Prosafe said North Sea operators are planning future campaigns with continued bidding for 2025 and initial discussions regarding 2026.
The company expects higher utilisation rates in coming years compared to the current 56%, bringing in earnings growth for the coming years.
Stavanger-headquartered Prosafe’s fleet includes six semi-submersible accommodation, safety and support vessels (ASVs) and one tender support vessel (TSV), which also functions as an accommodation vessel.
Prosafe returned to profit in the first half of the year, bringing in an EBITDA of $13.8 million compared to $16.2m in the first half of 2023, and a second quarter EBITDA of $6.6m (compared to $9.8m in the same quarter of last year.)
In July, the company signed a letter of intent with Ithaca Energy to provide its Safe Caledonia vessel to support work on the group’s Captain field.
The contract is expected to commence in June 2025, covering six months with up to three months of options. It comes with a value of between $26m and 37m, depending on options.
Last year, Prosafe appointed a new chief executive, Terje Askvig, replacing Reese McNeel.
Chief commercial officer at Prosafe Ryan Stewart commented: “We were keen to provide a great working environment for our employees, and this new office offers quality workspace in a great location. It is an ideal operational base for our business, complementing our other offices.”
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