Prosafe SE
Capital Structure
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in mil. unless spec.Company Description
- CEO
- Reese McNeel
- Full Time Employees
- 305
- Sector
- Industrial services
- Industry
- Contract drilling
- Address
- Ruseløkkveien 30 Oslo PS Norway 0251
- IPO Date
- Apr 23, 1997
- Website
- prosafe.com
- Similar Companies
- Business
- Prosafe SE Prosafe SE owns and operates a fleet of semi-submersible accommodation, safety and support vessels (ASVs) and tender support vessels (TSVs) that provide accommodation for 159 to 500 personnel, along with welfare and catering facilities, storage, workshops, offices, medical services, deck cranes, lifesaving and firefighting equipment; the vessels support offshore oil and gas activities including additional accommodation, engineering, construction, maintenance, hook-up, commissioning, tiebacks, decommissioning and drilling support. The company serves the oil and gas industry worldwide with operations in regions such as South America (primarily Brazil), North America (including Mexico and US Gulf), Europe (Norway, UK, Denmark), West and North Africa, the Mediterranean, North-west and Southern Australia, Asia (Indonesia, Philippines, Russia) and maintains subsidiaries including Prosafe (UK) Holdings Limited, Prosafe Offshore Holdings Pte Ltd, Prosafe Services Maritimos Ltda and Safe Eurus Singapore Pte Ltd. Prosafe SE was founded in 1997 as Procon Offshore ASA through a demerger from Transocean and is headquartered in Stavanger, Norway, with additional offices in Aberdeen, Scotland; it converted to a Societas Europaea structure in 2007 and relocated its registered seat to Cyprus for tax and flexibility reasons while retaining global operations. The fleet comprises six ASVs including Safe Boreas, Safe Caledonia, Safe Concordia, Safe Notos, Safe Eurus and Safe Zephyrus, plus one TSV (Safe Scandinavia); these dynamically positioned, anchor moored or POSMOOR vessels are designed for harsh environments and offer high-specification capabilities such as DP3 systems, 10-point mooring and 300-tonne cranes on newer units. Prosafe SE focuses on chartering and operating these vessels for clients like Petrobras, Ithaca Energy, Aker BP and Equinor, delivering strong HSSEQ performance and operational efficiency in demanding offshore settings. Recent developments include Petrobras extending the Safe Zephyrus contract through 2025 for US$107 million to support commissioning at the Buzios field offshore Brazil, alongside firm four-year contracts for Safe Notos and Safe Eurus; reactivation of Safe Caledonia for Ithaca Energy at the UK North Sea Captain field in June 2025 and Safe Boreas for a Western Australia project starting October 2025; sale of the Safe Concordia flotel for $5 million in February 2025 upon contract completion; and a comprehensive recapitalization in July 2025 involving $193 million of term loan restructuring, $75 million new funding and consolidation into a $225 million facility. With all vessels now operational as of September 2025 including Safe Boreas on standby transitioning to contracts, Prosafe SE reports strong market demand led by Brazil and Africa, ongoing cost efficiencies, organizational right-sizing and backlog growth potential under interim CEO and CFO Reese McNeel.
Company News
Prosafe SE (PRSEF) Q2 2026 Earnings Call Transcript
Prosafe SE: Operational update – May 2026
Prosafe SE: Shareholding disclosure
Prosafe SE: Annual report 2025 in ESEF format
Prosafe SE (PRSEF) Q1 2026 Earnings Call Transcript
Prosafe SE: Annual General Meeting completed
Prosafe SE: First-quarter results 2026
Prosafe SE: Operational update – April 2026
Prosafe SE: Invitation to Q1 2026 results and webcast on 1 June
Prosafe SE: Notice of Annual General Meeting to be held on 29 May 2026
Prosafe SE: 2025 Annual report
Prosafe SE: Operational update – March 2026
Prosafe SE: Resignation of Board Member
Prosafe SE: Operational update – February 2026
Prosafe SE: Grants of Restricted Stock Units
Prosafe SE: Shareholding disclosure
Prosafe SE (PRSEF) Q4 2025 Earnings Call Transcript
Prosafe SE: Fourth-quarter results 2025
Prosafe SE: Operational update – January 2026
Prosafe SE: Halvdan Kielland appointed as permanent CFO