Prosafe has received a Notice of Award for a minimum nine-month contract by Shell Philippines Exploration B.V. (‘SPEX’) using the Safe Astoria for accommodation support at the Malampaya Phase 3 Depletion Compression Project offshore Philippines.
On site operations are planned to commence within Q2/Q3 2014. In addition, Prosafe has granted SPEX three additional one-month options.
Prosafe has provided SPEX the ability to alternatively choose a structure with 11-month firm period plus options, or 12-month firm period plus options.
Total value of the firm period will be between USD 58.1 million and USD 70.5 million depending on which alternative is selected.