Statoil has awarded Prosafe a contract for the provision of the Safe Zephyrus semi-submersible accommodation vessel for a giant North Sea development – the Johan Sverdrup field.
Under the contract, the Safe Zephyrus will support Phase 1 of the Johan Sverdrup hook-up and commissioning project in the Norwegian sector of the North Sea.
The contract duration has not been fixed, as Statoil has three scenarios available for nomination in early August 2017; either a 12-month firm period from late Q2 2018, or a 12 month firm period from late Q3 2018 with 4 months of options, or lastly 5 months firm from late Q2 2018 plus 6 months of options and 4 months firm from Q2 2019 plus 4 months of options.
The value of the contract firm period will be between $51 and $53 million including fuel, mobilization and demobilization depending on the scenario nominated.
Revenue generated from the provision of catering services is in excess of the total value.
“The contract will provide longevity of operations for the Safe Zephyrus and generate a firm cash flow in a soft market. The combination of building order book and longevity with the retained optionality from other vessels in the fleet represents a balanced situation for Prosafe,” Prosafe said.
The company added: “Johan Sverdrup is the largest discovery on the Norwegian continental shelf in recent history, and Prosafe is pleased to work with Statoil and its partners on this significant project.”
Prosafe has described the Safe Zephyrus as one of the most advanced accommodation semi-submersible vessels in the world, capable of ensuring the best operability through high gangway connectivity in the harshest of environments whilst providing a total of 450 beds.
Jesper Kragh Andresen , Prosafe CEO, said: “Prosafe regard this contract award as a significant milestone and we are ready to deliver the highest quality of vessel and service. Statoil is a key client and this was a very important contract for the company to win and we anticipate that this will position the Safe Zephyrus well for any additional work at the Johan Sverdrup development.”