We can proudly say that 2008 has been yet another successful year for our business. Steady operational performance and a high rig utilisation rate have contributed to a strong financial result.

Since Prosafe was established in 1997, the company has undergone a number of major changes. We have consistently based our strategies, objectives and activities on our vision of “being a leading and innovative provider of technology and services in selected niches of the global oil and gas industry”. Mergers, acquisitions and spin-offs have demonstrated our determination and ability to respond to challenges and draw benefit from opportunities.

In May 2008, we made the strategic decision to spin off the business division Floating Production. That company is now listed on the Oslo Stock Exchange as Prosafe Production Public Limited. Going forward, we will concentrate our management resources and financial capacity on further developing and strengthening Prosafe’s leading position in the offshore accommodation segment.

We have systematically developed and consolidated the market for semi-submersible accommodation rigs on a worldwide basis and have over time acquired a fleet of 12 quality vessels. These vessels can operate in all geographical areas, which gives us a very competitive position.

Our conscious commitment has yielded results. The Offshore Support Services division ranks as the world’s leading supplier of accommodation/service rigs and delivered the best financial result ever in 2008. We posted revenues of USD 491.1 million and a net profit of USD 202.8 million.

Read more >>