Prosafe, Statoil Agree Mariner Project Re-Phasing

Accommodation vessel provider Prosafe and energy firm Statoil have agreed to re-phase the Mariner Project on the UK Continental Shelf of the North Sea from 2016 into 2017 and extended their previously agreed contract period for the project from eight to 13 months.

Operations at the Statoil Mariner platform will commence within the third quarter of 2017 and will be supported by either the Safe Zephyrus or Safe Boreas accommodation support vessel. In addition to the revised extended firm hire duration, Prosafe has granted Statoil six additional one-month options linked to the Mariner project.

The total value of the re-phased and extended firm hire duration for the Mariner Project has increased from $76.3 million to approximately $131.8 million. This increased cost includes a re-phasing charge, which is payable in 2016.



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