Prosafe rig utilisation rate drops to 61% in Q4 2010

Oslo-listed rig operator Prosafe SE said today that its rig utilisation rate dropped to 61% in the fourth quarter of 2010 from 84% in the corresponding period of 2009.
The rig MSV Regalia operated for British oil major BP plc on the Valhall offshore facility in the Norwegian sector of the North Sea until 23 November 2010. It was replaced by the rig Safe Scandinavia, which was previously chartered by oil major Statoil ASA in the country until the end of October 2010. Before replacing MSV Regalia, Safe Scandinavia adjusted the gangway to correspond to the landing platform height at Valhall.
The vessels Safe Concordia, Safe Astoria, Safe Bristolia and Safe Caledonia were idle in the fourth quarter.
The rigs Safe Scandinavia, MSV Regalia, Safe Bristolia and Safe Caledonia have carried out parts of their annual maintenance work during October-December 2010.
The units Safe Esbjerg, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe Regency were fully utilised in the reporting period.
In 2010, Prosafe's rig utilisation rate was 75% compared to 86% a year ago.
Source: Press release