Prosafe

What Prosafe does

Prosafe SE is a Norwegian publicly listed company (OSE: PRS) and one of the world's largest owners and operators of semi-submersible offshore accommodation vessels. The company operates a fleet of five Accommodation, Safety and Support Vessels (ASVs) — Safe Boreas, Safe Zephyrus, Safe Notos, Safe Eurus, and Safe Caledonia — plus one Tender Support Vessel (TSV). These vessels provide hotel-quality accommodation for up to 500 people each, alongside welfare and catering facilities, storage, workshops, offices, medical services, deck cranes, and lifesaving/firefighting equipment, and they are deployed across offshore oil and gas regions including Brazil, the UK North Sea, and Australia.

The company's underlying technology centers on its semi-submersible hull design and station-keeping systems. Four vessels are dynamically positioned (DP2 and DP3) and one uses passive position mooring (POSMOOR), enabling stable operations in harsh offshore environments such as the Norwegian and UK Continental Shelves. Safe Boreas and Safe Zephyrus hold Acknowledgments of Compliance from the Norwegian Petroleum Safety Authority (PSA), and Prosafe maintains ISO 9001, 14001, 45001, and 50001 certifications across its management systems. This regulatory compliance, combined with three decades of operational track record and over 184 contracts executed, is the technical and reputational backbone of the company's value proposition to oil and gas operators.

Prosafe generates revenue primarily through day-rate vessel charters under multi-year contracts with national oil companies, super majors, majors, and large independent operators. The company sells exclusively through direct enterprise field sales and formal tender processes, with Bid Committee oversight for contracts above USD 10 million and senior executive involvement in major bids. Backlog stands at USD 403 million including options, providing revenue visibility into 2027. Recent operating data shows a clear inflection: fleet utilization rose from 57% in 2025 to 79% in May 2026 (with 100% utilization reported in Q4 2025), Q1 2026 EBITDA tripled to USD 14.8 million from USD 4.6 million year-over-year, and full-year 2026 EBITDA is guided at USD 45–55 million. Customer relationships are anchored by long-running charters with Petrobras in Brazil and Ithaca Energy in the UK.

Name

Prosafe

Legal name

Prosafe SE

Website

https://prosafe.com

Company type

Public

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Short description

Prosafe SE is a Norwegian public operator of one of the world's largest fleets of semi-submersible offshore accommodation vessels (ASVs), serving oil and gas operators including Petrobras and Ithaca Energy with hotel-quality accommodation for production, hook-up, and life extension projects.

Ownership category

akta.pro rank

Product category

Offshore Accommodation Services

NAICS

Support Activities for Water Transportation (4883)

SIC

Water Transportation (4400)

akta.pro industry

PRIMARYEUALABAJ

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters)

Energy, Utilities & Environment/Oil & Gas (Upstream, Midstream, Downstream and Refining)/Oilfield Services & Drilling (OFS)

SECONDARYTLADABAL

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS)

Transportation & Logistics/Freight Transportation (Air, Maritime, Rail, Trucking)/Ocean Freight Carriers (Container, Bulk, Tanker)

Keywords

• Offshore accommodation services
• Semi-submersible vessels
• Oil and gas charter
• Offshore support vessels
• Marine accommodation units

Headquarters

HQ city

Stavanger

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Vessel Charter Day Rates: Primary revenue from chartering semi-submersible accommodation vessels on day rate basis to oil and gas operators. Revenue is dependent on fleet utilisation and gangway connection/uptime. Vessels earn full day rates when operating at full capacity.
2. Contract Backlog: Long-term charter contracts providing contracted revenue visibility. Current backlog stands at USD 403 million including options, with contracts extending into 2027.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Prosafe owns and operates a fleet of semi-submersible accommodation vessels that are chartered to offshore oil and gas operators worldwide. The company delivers safe living quarters, working environments, and operational support at sea for projects such as maintenance, modifications, hook-ups, and production support. Prosafe is recognised as a leading provider of these high-specification accommodation assets globally.

Product overview

Prosafe operates the largest and most versatile fleet of semi-submersible accommodation vessels in the world. The fleet consists of five semi-submersible Accommodation, Safety and Support Vessels (ASVs) — Safe Boreas, Safe Zephyrus, Safe Notos, Safe Eurus, and Safe Caledonia — plus one Tender Support Vessel (TSV). The vessels offer hotel-quality accommodation capacity for up to 500 people, welfare and catering facilities, storage, workshops, offices, medical services, deck cranes, and lifesaving and firefighting equipment. The fleet includes both dynamically positioned (DP2/DP3) and passive position moored (POSMOOR) vessels capable of operating in harsh offshore environments worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Safe Boreas Semi-submersible accommodation vessel owned and operated by Prosafe, chartered to offshore oil and gas operators to provide living quarters and operational support at sea.
• Safe Zephyrus Semi-submersible accommodation vessel owned and operated by Prosafe, chartered to offshore oil and gas operators to provide living quarters and operational support at sea.
• Safe Notos

Quantifiable outcome

• Fleet utilisation increased to 79% in Q1/Q2 2026 from 57% in 2025
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Ithaca Energy (UK) LimitedcoreStrategic or Co-development Partner · 15 May 2026Prosafe signed a contract with Ithaca Energy for the Safe Caledonia vessel to provide accommodation support at the Captain field in the UK sector of the North Sea. The firm contract period is 6 months commencing Q2 2027, with up to 3 months of additional options, and the total contract value ranges from approximately USD 30 million to USD 44 million depending on options exercised. The CEO stated this continues the company's strong relationship with Ithaca Energy, with the vessel having previously worked for the operator in UK waters.

Scale indicators13 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Vroon: Dutch offshore service vessel operator with a fleet that includes accommodation/support vessels serving oil & gas and offshore wind operators across NW Europe and globally. Directly comparable to Prosafe in vessel type (ASVs/PSVs), customer base (oil & gas majors and NOCs), and day-rate chartering model.
• ESVAGT: Danish operator of offshore service vessels including accommodation walk-to-work and SOV platforms for the oil & gas and offshore wind sectors in the North Sea. Comparable in providing high-spec offshore accommodation to upstream operators with similar regulatory requirements (UKCS, Danish, Norwegian sector).
• North Star Renewables: UK-based operator of offshore service vessels with growing exposure to accommodation, SOVs, and PSVs serving the North Sea oil & gas and offshore wind markets. Similar business model of long-term charter contracts to majors and NOCs in harsh-environment geographies overlapping Prosafe.

Broad incumbents

• BW Offshore: Singapore/Oslo-listed owner/operator of FPSOs serving global deepwater oil & gas operators including Petrobras in Brazil. Comparable as a Norwegian-listed offshore services peer with deep overlap in the Brazil pre-salt customer base, though the FPSO product differs from Prosafe's accommodation vessels.
• Bourbon Corporation: French global owner of a large fleet of offshore support vessels (PSVs, AHTS, crew boats) serving the international oil & gas industry. Comparable as a broad offshore marine services incumbent, though Bourbon's portfolio is significantly broader than Prosafe's accommodation focus.
• Seacor Marine Holdings: US-based provider of offshore marine services including PSVs, AHTSs, and accommodation/utility vessels for the oil & gas industry. Comparable in vessel operations and customer overlap, though Seacor's geographic and product focus skews toward the Gulf of Mexico and Americas.
• Tidewater Inc. US-listed global owner of one of the largest OSV fleets (200+ vessels) serving offshore oil & gas operators worldwide. Comparable as a broad incumbent in the same offshore marine services space, with overlap in customer base (major IOCs and NOCs) and day-rate chartering model.

Emerging players

• Vallianz Holdings: Singapore-based offshore support vessel operator focused on the Middle East and Asia-Pacific markets, with a fleet serving national oil companies. Comparable as a smaller OSV operator competing for similar tender opportunities, though smaller scale and focused on different geographies than Prosafe.

Regional players

• DOF Group: Norwegian OSV operator with AHTS, PSV, and subsea construction vessels serving the same North Sea, Brazil, and Australasia oil & gas customers as Prosafe. Comparable in customer overlap and Norwegian-listing/regulatory context, but product mix is broader than Prosafe's accommodation focus.
• Solstad Offshore: Norwegian owner/operator of offshore support vessels (AHTS, PSVs, subsea construction) serving global oil & gas operators. Directly comparable as a Norwegian-listed OSV peer competing for similar tenders and capital, though Prosafe's pure-play ASV focus is a narrower specialisation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/prosafe

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prosafe