Prosafe in cost negotiations on Chinese-built accommodation rigs

Offshore staff

LARNACA, CyprusProsafe says the newbuild accommodation semisubmersible Safe Eurus has been placed in a preserved, strategic stacking mode with COSCO (Qidong) Offshore Co. in China.

The company has also assumed control over the Safe Nova and Safe Vega rigs and will negotiate with COSCO and related parties on a workable delivery and commercial solution of these two semis which are nearing completion.

If no agreement results, Prosafe retains the right to claim cancellation on the newbuild contracts due to late delivery, the company says, and to claim a deposit of around $60 million fully secured by Bank of China.

Prosafe has also decided to sell one of its older accommodation rigs, the Safe Lancia, for scrap/recycling.


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


Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...