Prosafe reports 96% vessel utilization

Prosafe’s rig utilization was 96% during the third quarter.

Offshore staff

LARNACA, Cyprus -- Prosafe’s rig utilization was 96% during the third quarter. In July, the MSV Regalia started work for BP on the Valhall field in the Norwegian North Sea and has been in operation throughout the rest of the third quarter.

Safe Scandinavia started operations for Shell at the Shearwater field in the UK North Sea at the end of July.

Safe Astoria was in layup at the Kemaman yard in Malaysia for most of the third quarter, after SEIC terminated its contract for the vessel. During the third quarter, Prosafe has received 85% of the day rate from SEIC.

In early October, Safe Astoria began a new contract for Shell at the Malampaya shallow water platform offshore the Philippines.

All other vessels have been fully utilized in the third quarter, the company says.

10/06/2009

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