Prosafe gets financial relief as it works to stay afloat
Flotel owner Prosafe has received some financial relief as it works to stay afloat amid the latest downturn.
Prosafe
Prosafe vessel fleet use down by almost half in first quarter of 2020
Vessel-owner Prosafe has reported a significant knockdown in its fleet utilisation rate for the first quarter of 2020.
North Sea must heed competition rules when it comes to cutting costs
The Covid-19 pandemic has created a severe demand shock for the energy market, coinciding with an oil price war that has caused prices to plummet further.
Total delays Prosafe contract at Elgin field due to ‘unprecedented challenge’
French oil giant Total has delayed a contract due to be led by vessel-owner Prosafe at its Elgin field in the North Sea.
Prosafe vessel picked to support Thistle platform tanks project
Offshore accommodation provider Prosafe will support the removal of subsea tanks from EnQuest's Thistle Alpha platform in the UK North Sea.
Prosafe, Floatel scrap merger plans after monopoly watchdogs dig in heels
Two offshore accommodation vessel contractors have thrown in the towel on their plans to join forces after running into opposition from monopoly watchdogs.
UK monopoly watchdog pours more cold water on Prosafe-Floatel merger
The UK’s monopoly watchdog has cast serious doubt on the completion of a merger between two North Sea offshore accommodation vessel suppliers.
Prosafe booked by Total for Elgin assignment in spring
Prosafe said today that its Safe Caledonia offshore accommodation vessel would start a contract with Total at the Elgin field in the UK North Sea in April.
£265m impairments from ‘prolonged’ North Sea downturn lead Prosafe to heavy loss
Impairment charges of £265million from a “prolonged downturn and weaker outlook in the North Sea” have taken Prosafe to a heavy loss in the third quarter.
Prosafe takeover of Floatel blocked by Norway’s competition watchdog
Vessel accommodation owner Prosafe has had its proposed takeover of Swedish rival Floatel blocked by Norway’s competition watchdog.
Prosafe, Floatel merger faces increased scrutiny from monopoly watchdogs
The UK’s monopoly watchdog has decided to carry out an in-depth investigation into the planned merger between two offshore accommodation providers.
Monopoly watchdog not sold on Prosafe, Floatel merger
The UK's monopoly watchdog is considering ramping up its investigation into the planned merger between two offshore accommodation rig owners.
Safe Boreas gets extension at Mariner
Prosafe’s Safe Boreas accommodation vessel has been given a one-month extension to its time at Equinor’s Mariner field.
Prosafe in Floatel takeover to create world’s largest offshore accommodation firm
Prosafe has signed a deal to acquire Bermuda-based Floatel International to create the “world’s largest” offshore accommodation company.
Prosafe reports loss amid ‘modest’ activity and lower day rates
Offshore accommodation vessel owner Prosafe reported a loss for the start of the year amid “modest” tendering activity.
Prosafe to begin BP North Sea work as Equinor deal winds down
Prosafe has today confirmed in its 2019 first quarter (Q1) report that its Safe Zephyrus accommodation vessel will begin its agreed contract with BP in May.
Prosafe bags £11.4m contract extension amid Mariner delay
Prosafe has been awarded a contract extension at Equinor’s Mariner project amid another setback to first oil from the project.
Higher fleet use helps Prosafe narrow losses
Offshore accommodation provider Prosafe narrowed its losses in 2018 as utilisation picked up.
Union bosses accuse Prosafe of ‘appalling social dumping’
Union bosses have accused offshore accommodation provider Prosafe of perpetrating one of the most “appalling examples of social dumping” ever seen.
Prosafe confirms it will shed 150 jobs
Offshore vessel owner Prosafe has revealed it will shed up to 150 jobs through voluntary redundancy in a effort cut operating costs.
Prosafe bags two North Sea contracts worth £18m
Prosafe has won two North Sea contracts worth £18.1million.
Prosafe in voluntary redundancy process for staff on two North Sea vessels
Prosafe has confirmed it is seeking to reduce its offshore workforce on two North Sea vessels in a bid to cut costs.
North Sea activity helps Prosafe narrow losses
Increased tendering activity for the North Sea helped Prosafe significantly narrow its pre-tax losses.
Prosafe bags £9m North Sea contract
Accommodation vessel contractor Prosafe has clinched a £9 million deal for its Safe Caledonia flotel in the UK North Sea.
Prosafe praises ‘early signs of North Sea recovery’
Offshore accommodation vessel owner Prosafe expects rates to improve amid “early signs of normalisation and market recovery” in the North Sea.