Prosafe
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| Type | Societas Europaea |
|---|---|
| Traded as | OSE: PRS |
| Industry | Petroleum |
| Founded | 1997 as Procon Offshore ASA |
| Headquarters | Larnaca, Cyprus |
| Key people | Michael Parker (Chairman), Karl Klungtvedt (President and CEO) |
| Products | Semi-submersible accommodation, service rigs |
| Revenue | US $442.4 million (2010)[1] |
| Operating income | US $221.1 million (2010)[1] |
| Profit | US $198.5 million (2010)[1] |
| Total assets | US $1.266 billion (end 2010)[1] |
| Total equity | US $410.3 million (end 2010)[1] |
| Employees | 430 (end 2010)[1] |
| Website | www.prosafe.com |
Prosafe SE is an owner/operator of semi-submersible accommodation and service rigs. The company is listed on the Oslo Stock Exchange and posted revenues of USD 442 million in 2010.
Operations
Prosafe owns 11 of 17 available semi-submersible accommodation/service rigs and one accommodation/service jack-up. The rig fleet is versatile and able to operate in all geographical areas. End 2008, five of Prosafe’s rigs were on long-term bareboat charters in the Mexican Gulf of Mexico. The seven other rigs were operating offshore Norway, UK, Denmark, Russia and the US Gulf of Mexico. The vessels are capable of operating in all offshore environments.
Accommodation/service rigs
Accommodation/service rigs are traditionally used wherever there is a need for additional accommodation, engineering, construction or storage capacity offshore. The majority of Prosafe's services are linked to maintenance and modification of installations on fields already in production, while some activity is also related to commissioning and decommissioning.
Prosafe's rigs have substantial accommodation capacity, with berths for 245-812 people. They offer welfare and catering facilities, medical services, storage, workshops, offices, deck cranes, lifesaving and fire fighting equipment. The rigs are positioned alongside the host installation and are connected by means of a telescopic gangway so that personnel can walk to work.
History
Prosafe was formed in 1997, when the platform drilling and technical services divisions de-merged from Transocean as a separate company and became listed on the Oslo Stock Exchange as Procon Offshore ASA. This company merged with Safe Offshore ASA, thereby entering the business segment of accommodation/service rigs, and changed its name to Prosafe ASA.
Prosafe acquired floating production company Nortrans Offshore in 2001, extending its activities to include the conversion, chartering and operation of FPSOs and FSOs.
In 2005, Prosafe refined its commercial portfolio with the sale of the Drilling Services division. In 2006, the company acquired Consafe Offshore AB, which owned three semi-submersible accommodation/service rigs and one accommodation jack-up. This acquisition cemented Prosafe’s leading position in the market for semi-submersible accommodation/service rigs.
In May 2008, Prosafe spun off business division Floating Production. This business division became an independent company, named Prosafe Production Public Limited.
At present, Prosafe comprises one business division, Offshore Support Services, which owns/operates 12 accommodation rigs.
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Annual Report 2010". Prosafe. http://www.prosafe.com/getfile.php/2010%20annual%20report/2010_Prosafe_annualreport.pdf. Retrieved 5 May 2011.
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