Oslo-listed accommodation rig owner Prosafe has firmed up a previously announced letter of intent with Ithaca Energy for work in the UK North Sea. The company announced that the contract has now been signed for the semisubmersible accommodation vessel Safe Caledonia to support operations at the Captain field.
The assignment is scheduled to begin in Q2 2027 and carries a firm duration of six months, with options for up to an additional three months. Prosafe said the contract value is estimated at between $30 million and $44 million, depending on whether the options are exercised.
The award converts a letter of intent announced in December last year into a firm contract and adds further backlog visibility for the accommodation rig specialist. Chief Executive Reese McNeel said the agreement continues a long-standing relationship between the two companies in the North Sea market. "It is a great pleasure to continue our strong relationship with Ithaca by chartering the Safe Caledonia in 2027 to support the important work at the Captain facility," McNeel said. "We are confident that both vessel and crew will once again deliver class-leading gangway connection throughout the contract."
The Captain oilfield, located 145 km north-east of Aberdeen, Scotland, in the Outer Moray Firth, remains one of Ithaca Energy's key producing assets and has undergone several redevelopment and life-extension programmes in recent years. The field includes a wellhead protector platform and bridge-linked platform connected to a floating production, storage and offloading (FPSO) vessel and two subsea manifolds tied back and connected to the platforms by a suite of pipelines.
Prosafe continues to be a strong player in the accommodation vessel segment in the North Sea, with semisubmersible units like Safe Caledonia serving critical roles as specialized assets providing crew accommodation for offshore oil and gas operations.
Key Takeaways:
1. Prosafe signed a six-month contract with Ithaca Energy for Safe Caledonia starting Q2 2027.
2. The contract value is estimated between $30 million and $44 million depending on options.
3. Safe Caledonia will support operations at the Captain oilfield off Aberdeen, Scotland.
4. The deal converts a December 2024 letter of intent into a firm contract.
5. The Captain field is a key Ithaca Energy asset connected to an FPSO vessel.
