Ithaca engages Safe Caledonia rig for North Sea support

Prosafe has signed a contract to provide the Safe Caledonia semisubmersible rig to support Ithaca Energy’s operations at the Captain field in the UK central North Sea.

The contract, valued at up to $37 million, is for six months firm, extendable by up to three months.

Prosafe CEO Terje Askvig said, “As the market continues to tighten, reactivation of the Safe Caledonia will provide optionality to our clients in the years to come.”

The letter of intent for this Safe Caledonia contract was originally announced by Prosafe on July 5.