Flotel’s lengthened stay in Gulf of Mexico brings millions of dollars to Prosafe

Oslo Stock Exchange-listed semi-submersible accommodation vessel owner and operator Prosafe has won a charter extension with an undisclosed company for one of its semi-submersible vessels that will continue working in the U.S. Gulf of Mexico.

The new four-month extension for the Safe Concordia unit comes months after the vessel secured the previous one, enabling its stay in the Gulf of Mexico until November 2024.

As the unnamed charterer has exercised early the remaining two months of options, alongside a further two months, the fixed term of the contract is now valid to March 9, 2025. This extension will bring the vessel owner approximately $13.14 million.

The Safe Concordia unit got a letter of award (LOA) in September 2022 to provide accommodation and construction support in the Gulf of Mexico, followed by the inking of the contract for the work covered by the LOA.

The vessel started the firm contract period of 330 days with up to six months of options on August 9, 2023, and the charterer exercised the first four out of six available months of options a few months later.

The 2005-built Safe Concordia is a DP2 semi-submersible ASV with 389 (461 with ALQ) beds for worldwide operations excluding Norway. The vessel was constructed at Keppel FELS shipyard in Singapore and an upgrade was completed in July 2015.

The latest extension in the Gulf of Mexico arrives on the heels of a contract Prosafe signed with North Sea-focused Ithaca Energy for one of its flotels, which enables the reactivation of the semi-submersible unit laid up at Scapa Flow in the UK.