Oslo Stock Exchange-listed semi-submersible accommodation vessel owner and operator Prosafe has received a conditional letter of intent (CLoI) for one of its vessels to support a project off the coast of Western Australia.
The Safe Boreas is meant to provide gangway-connected operations for a project in Australian waters under the CLoI, which is conditional upon the execution of a final contract. The name of the client has not been disclosed.
The 15-month deal comes with up to six months of options, with contract value ranging from $75 million to $100 million. Before mobilizing from the North Sea in Q2 2025 and starting the contract, the vessel is expected to undergo its five-yearly special periodic survey and other maintenance work.
Prosafe’s CEO, Terje Askvig , felt confident about the subsequent formalization of the contract, noting: “With Safe Boreas, the client will receive a vessel with the highest standard and reputation in supporting the world’s foremost hook-up and commissioning projects. The market outside the North Sea has seen an increasing level of activity and high-end offshore accommodation demand and this CLoI is further evidence of this trend.”
The 2015-built Safe Boreas is a DP3 semi-submersible autonomous surface vehicle (ASV) of GVA 3000E design with beds for 450 persons. The firm recently reported that the vessel was in lay-up in Norway pending future work.
While Prosafe’s fleet utilization rate for April 2024 was somewhat lower than the level reported for January , it showed signs of recovering from the reduced workload in 2023 .
Earlier this year, another vessel from the Norwegian player’s fleet, the Safe Concordia , got a contract extension, securing its stay in the Gulf of Mexico until November 2024 .