Prosafe has secured a letter of award (LoI) from Ithaca Energy for a 2027 charter of its semi-submersible accommodation unit Safe Caledonia in the UK sector of the North Sea.
The LoI covers accommodation services linked to a connected gangway at the Captain field. The firm period is six months, with work due to commence within Q2 2027, plus options of up to three months. Prosafe said it expects the final contract award in Q1 2026.
Based on the LoI, the contract value is estimated at about $30 million to $44 million, depending on options. Safe Caledonia is already active at the Captain field and is currently contracted through early February 2026 after Ithaca Energy exercised nine weeks of options. A further three weeks of options remains available.
Reese McNeel, CEO of Prosafe, said Safe Caledonia has supported the Captain facility since June 2025, and that the new LoI for 2027 reflects both the unit’s performance and the working relationship with Ithaca Energy in the North Sea environment.
The company also issued a fleet status update. Safe Eurus, Safe Notos, and Safe Zephyrus continued operating in Brazil at full capacity in November 2025, delivering near 100% commercial uptime. The special periodic survey (SPS) and associated off-hire for Safe Zephyrus has been shifted to 2026, while the other two units are expected to complete their SPS by the end of Q1 2026.
Safe Boreas has arrived in Australia and has been receiving full day rate from 15 December 2025. Prosafe said it has agreed with the client that the 15-month firm period will begin upon gangway connection, expected in Q1 2026.
McNeel added that fleet performance has remained consistent, citing high gangway uptime and safe operations. He said the Safe Caledonia extensions and the new LoI increase visibility into early 2026 and from Q2 2027, while Prosafe continues to assess opportunities between contracts. He also said all units are now contracted into 2027, with the company focused on extending backlog at higher day rates and improving efficiencies and costs to support future revenue and EBITDA growth.
