Prosafe has signed a contract with BP Exploration Operating Company Limited (‘BP’) for the Safe Caledonia to provide accommodation support at the Eastern Trough Area Project (ETAP) in the UK sector of the North Sea.
ETAP is located 240km east of Aberdeen in the Central North Sea. It is an integrated development of nine oil and gas reservoirs. ETAP is developed using a central processing facility (CPF) operated by BP, comprising a processing, drilling and riser (PdR) platform, bridge-linked to a quarters and utilities (QU) platform over Marnock, and a normally unmanned installation (NUI) on Mungo. The remaining seven fields all produce through subsea manifolds tied back to the CPF.
On site operations are planned to commence between mid-April and mid-July 2015, with a firm period of 13 months. In addition, Prosafe has granted BP three additional one-month options and one fourteen-day option.
Total value of the firm period is approximately USD 98.2 million.
Trevor Garlick, Region President, for BP’s North Sea business said, “This is a significant investment in the provision of a facility that will enable us to extend the life of this valuable North Sea asset. The additional accommodation space will allow BP and its partners to increase activity aimed at enhancing production efficiency, improving plant reliability and maximising the recovery of oil and gas from our reservoirs.”
Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 222.4 million in 2012 and net profit was USD 177.5 million. The company operates globally, employs 570 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS.
