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


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

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