Prosafe to Supply Accommodation Rig for Lundin’s North Sea Project

Cyprus’ based Prosafe has signed a contract with Lundin Norway AS for the use of its new build accommodation rig Safe Boreas to provide accommodation support at the Edvard Grieg Project in the Norwegian sector of the North Sea.

On site operations are planned to start Q2 2015, with a firm period of 6 months. In addition, Prosafe has granted Lundin one 5 month option exercisable up to or within Q3 2014, or one 2 month option exercisable up to or within Q3 2015.

Total value of the firm period will be approximately USD 63.4 million. The award is the first contract for the Safe Boreas which will, according to the owner, be the most advanced and efficient harsh environment accommodation rig in the world, with facilities for 450 persons in single man cabins, a DP3 (dynamic positioning) system as well as a 12 point mooring arrangement.

[mappress]

Press Release, July 6, 2012