EnCana to Use Safe Caledonia on Buzzard Field

Buzzard Field, North Sea
(Click to Enlarge)
Prosafe has been awarded a contract by EnCana (U.K.) Limited for the use of the accommodation/service rig Safe Caledonia for the Buzzard Field Development on the UK Continental Shelf.

The contract has a fixed duration of five months, with start-up in the second or third quarter of 2006. The client has in addition a one-month option.

The total contract value is about US $21 million, including mobilization and demobilization.

Following this award, Prosafe has secured a fleet utilization of approximately 89% in 2004, 77% in 2005, 72% in 2006, 62.5% in 2007 and 30% in 2008. The company maintains its positive view on the market for modern accommodation/service vessels for the coming years both in the North Sea and internationally.

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours