Prosafe takes action as offshore accommodation demand stagnates

Offshore staff

LARNACA, CyprusProsafe is reorganizing its shore-based business in an attempt to cut its annual costs by $30-40 million.

The changes, which include redundancies, should take effect during the current quarter as the company adjusts its accommodation support vessel capacity to meet a falling offshore activity level.

Prosafe is also targeting reduced capex spending to protect its financial position.

The company hopes its measures will ensure it stays competitive in the continuing difficult market conditions and in a solid position to grow once the industry starts to recover.


Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...