Prosafe wins support role extension on Valhall

BP Norge has exercised two three-month options for the use of two Prosafe-owned accommodation rigs at its Valhall development in the Norwegian North Sea.

Offshore staff

ARNACA, Cyprus -- BP Norge has exercised two three-month options for the use of two Prosafe-owned accommodation rigs at its Valhall development in the Norwegian North Sea.

The first three months, starting in July, covers the continued use of theMSV Regalia. The Safe Scandinavia will take over for the remaining three months from October onwards.

Prosafe says the value of these exercised options is around $44.9 million, and it has been granted a further two-month option which would come into effect next January, if exercised.

In the UK North Sea, the company has a Letter of Intent to provide the accommodation support rig Safe Scandinavia for an unnamed project. The firm period of this award is four months, with on-site operations scheduled to start in August 2012.

Among the company’s other rigs, theSafe Concordia, Safe Astoria, Safe Bristolia, and Safe Caledonia were all idle during the final quarter of 2010. The Safe Bristolia and Safe Caledonia both underwent annual maintenance work in this period.

01/19/2011

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