Impairment charges of £265million from a “prolonged downturn and weaker outlook in the North Sea” have taken Prosafe to a heavy loss in the third quarter.
Vessel accommodation owner Prosafe has had its proposed takeover of Swedish rival Floatel blocked by Norway’s competition watchdog.
The UK’s monopoly watchdog has decided to carry out an in-depth investigation into the planned merger between two offshore accommodation providers.
The UK's monopoly watchdog is considering ramping up its investigation into the planned merger between two offshore accommodation rig owners.
Prosafe’s Safe Boreas accommodation vessel has been given a one-month extension to its time at Equinor’s Mariner field.
Prosafe has signed a deal to acquire Bermuda-based Floatel International to create the “world’s largest” offshore accommodation company.
Offshore accommodation vessel owner Prosafe reported a loss for the start of the year amid “modest” tendering activity.
Prosafe has today confirmed in its 2019 first quarter (Q1) report that its Safe Zephyrus accommodation vessel will begin its agreed contract with BP in May.
Prosafe has been awarded a contract extension at Equinor’s Mariner project amid another setback to first oil from the project.
Offshore accommodation provider Prosafe narrowed its losses in 2018 as utilisation picked up.
Union bosses have accused offshore accommodation provider Prosafe of perpetrating one of the most “appalling examples of social dumping” ever seen.
Offshore vessel owner Prosafe has revealed it will shed up to 150 jobs through voluntary redundancy in a effort cut operating costs.
Prosafe has won two North Sea contracts worth £18.1million.
Prosafe has confirmed it is seeking to reduce its offshore workforce on two North Sea vessels in a bid to cut costs.
Increased tendering activity for the North Sea helped Prosafe significantly narrow its pre-tax losses.
Accommodation vessel contractor Prosafe has clinched a £9 million deal for its Safe Caledonia flotel in the UK North Sea.
Offshore accommodation vessel owner Prosafe expects rates to improve amid “early signs of normalisation and market recovery” in the North Sea.
Norwegian energy giant Equinor will keep the Safe Boreas accommodation vessel at the Mariner field for another month.
Prosafe has been offered a month extension for the Safe Boreas charter contract at the Mariner project by operator Equinor.
Vessel contractor Prosafe will get paid at least $25.5 million for deploying the Safe Scandinavia floatel at the Ula platform in the Norwegian North Sea.
Cyprus-headquartered Prosafe has submitted a counter-appeal in a £31million legal spat with Westcon.
Prosafe has signed a five-month contract with supermajor BP for the provision of an accommodation vessel at the Clair Ridge platform in the West of Shetland.
The world’s biggest vessel operator, Prosafe, has posted a significant loss for 2017.
Prosafe today reported its fleet utilisation rate in the fourth quarter of 2017 was 36.1%
The decision to send a group of oil workers ashore after they refused to get into lifeboats on a rig is “outrageous”, a union boss has said.