ProSafe And Schlumberger Enter Subsea Market

Based on the positive feedback from customers towards the company’s subsea well intervention concept, the Board of ProSafe ASA has made a decision to invest in the approximately USD 25 million in the MSV Regalia over the next 9-12 months in order for the company to become a leading supplier in the growing subsea well intervention market. The investment will be funded from the company's balance sheet.

ProSafe announced in September 2000 that the company had entered into a co-operation agreement for well intervention on subsea wells with Schlumberger Oilfield Services. Due to the unique positions the companies hold within the markets for multi-service vessels and well intervention, a co-operation between ProSafe and Schlumberger will form a competitive solution which will contribute to increase the oil companies’ production from existing subsea wells.

MSV Regalia is a modern, multi-service rig with a dynamic positioning system (DP3), and is fully equipped for deep-water operations in the North Sea. ProSafe and Schlumberger will form a joint integrated operational unit which will offer a full range of services in relation to maintenance of a continuously increasing number of subsea wells, including cable operations, coiled tubing, sementing, pumping, well control and well testing. Schlumberger will design and build the well control and subsea intervention equipment.


Our Privacy Pledge

Most Popular Articles
Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours