Prosafe: Marine project re-phasing agreed

Prosafe and Statoil Ltd have agreed to re-phase the Mariner Project in the UK Continental Shelf of the North Sea from 2016 into 2017, and extend the firm hire duration from 8 months to 13 months.

Operations at the Statoil Mariner platform will commence within 3Q17 and will be performed by either the Safe Zephyrus or Safe Boreas accommodation support vessel. In addition to the revised extended firm hire duration, Prosafe has granted Statoil six additional one-month options linked to the Mariner project.

Total value of the re-phased and extended firm hire duration for the Mariner Project has increased from US$76.3 million to approximately US$131.8 million, including a re-phasing charge payable in 2016.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached US$248.3 million in 2014 and net profit was US$78.8 million. The company operates globally, employs 800 people and is headquartered in Larnaca, Cyprus.

Edited from press release by Angharad Lock

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/05012016/prosafe-and-statoil-marine-project-re-phasing-agreed-1858/