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    Prosafe details well intervention set back

    News // April 25, 2003
    Prosafe has announced that unforeseen challenges to the subsea equipment from one of its subcontractors have occurred, and, as a result, Prosafe has not been able to commence its planned subsea well intervention campaign.

    Prosafe emphasises that the challenges are unrelated to MSV Regalia, which was upgraded for such work.

    MSV Regalia remains in Onarheimfjorden where continuous work and testing are ongoing.

    The effect of the delay on Prosafe's second quarter results will depend on when the company can commence operations, the time available for subsea well intervention before the rig must be prepared for the Fram contract for Norsk Hydro, and the financialoutcome that Prosafe agrees with its subcontractor and customer.

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