Shell Offshore Inc. (Shell) has extended the firm contract period for use of the semi-submersible service/accommodation rig Safe Scandinavia at Mars TLP to a total term of five months.
The value of the amended contract period including mobilisation and demobilisation, net of any taxes, is approximately USD 26.8 million. Shell has a further two 14-day options available.
The contract demonstrates once again the strength of the accommodation and service rig market. Prosafe still has three vessels available for most of 2007 and 2008, and is in an excellent position to benefit from a strong market with steadily increasing dayrates.
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