Prosafe , the offshore accommodation services provider, has secured a contract extension for one of its semi-submersible vessels, which is currently deployed in the Gulf of Mexico, United States.
The letter of award (LOA) was awarded to the shipowner in September 2022 to provide accommodation and construction support services using the Safe Concordia vessel in the Gulf of Mexico region. The corresponding contract for the activities specified in the LOA was formalized the following month, marking the beginning of the solid contractual period of 330 days with the possibility of extending up to 6 additional months from August 9, 2023 .
According to Prosafe, the lessee of the Safe Concordia vessel has chosen to exercise the first four months of the six available options early, thus extending the fixed term of the contract until November 9, 2024 . The total value of this extension is approximately $12.7 million.
More details of Safe Concordia
The Safe Concordia, a DP2 semi-submersible vessel built in 2005 with a capacity of 389 beds (461 with ALQ) for worldwide operations excluding Norway, underwent upgrades in July 2015 following its initial construction at the Keppel FELS shipyard in Singapore.
Prosafe’s fleet utilization rate reached 49.5% by November 2023 and at the end of December 2023, the company expressed high expectations for future tenders for 2025 and beyond.
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Source and photo: offshore-energy.biz