Prosafe

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Prosafe ASA

Type	Public
Founded	1972 as Morcon
Headquarters	Stavanger, Norway
Key people	Arne Austreid (CEO)
Industry	Petroleum
Revenue	USD 295.3 million (2005)
Operating income	USD 103.6 million (2005)
Net income	USD 46.4 million (2005)
Website	http://www.prosafe.com

Prosafe OSE: PRS is the world leader in semi-submersible accommodation and service rigs and a large operator of Floating Production Storage and Offloading (FPSO) and Floating Storage and Offloading (FSO).

1 Operations
2 History

[edit] Operations

[edit] Accommodation rigs

Prosafe operates eight accommodation rigs wordwide. The company also owns Consafe Offshore, which operates three accommodation rigs and one service rig.

[edit] Service rigs

Prosafe offers a number of services including extended well test, tender assisted drilling (TAD), subsea construction, decommissioning, and subsea well intervention.

In 2003, Prosafe conducted three well interventions for Statoil on the Statfjord, Visund and Åsgard oil fields.

[edit] Floating Production Storage and Offloading

Prosafe operates a total of six FPSOs and FSOs in Egypt, Gabon, India, Indonesia, Ivory Coast and Nigeria.

Field	Country	Ship	Operator	Opened	Depth
Abo	Nigeria	Abo FPSO	Agip	2002	550 m
Espoir Field	Ivory Coast	FPSO Espoir Ivoirien	Canadian Natural Resources	2000	120 m
Kiame field	Angola	FPSO Petróleo Nautipa	Ranger Oil	1997	142 m
Zaafarana field	Egypt	FPSO Al Zaafarana	Zaafarana Oil Company	1994
Madura Sea	Indonesia	FSO Madura Jaya	Kodeco Energy	2000
PY-3 field	India	FSO Endeavor	Aban Loyd Chiles Offshore	1996
Polvo field	Brazil	Polvo FPSO	Devon Energy	2007	100 m
Tui field	New Zealand	Tui FPSO	New Zealand Overseas Petroleum	2007	120 m

[edit] History

Morcon AS was established in 1972 to provide services to the Ekofisk oil field on the Norwegian continental shelf. Morcon later became Transocean ASA, and in 1997, the drilling division was demerged and became Procon Offshore ASA. The company is listed on Oslo Stock Exchange. In the same year, Safe Offshore was created and the two companies later merged into ProSafe ASA. In 1998, Prosafe merged with Consafe and Discoverer ASA. In 2001, the Prosafe name was used for all three marked sections: Prosafe Production, Prosafe Offshore, and Prosafe Drilling Services. The drilling division was sold in 2005 to KCA Deutag Drilling. In June 2006, Prosafe acquired Consafe AB.