Increased oil prices have Prosafe taking a brighter view of the future
Elevated oil prices will lead to multi-year surges in the investments of the oil and gas industry, forecasts hotel rig firm Prosafe, which books a positive operating result for the year’s first quarter in the wake of increased activity.
by DAG HOLMSTAD
Prospects for the offshore market are looking much more positive than they have for a long time, says Prosafe, which bagged positive earnings before interest, taxes, depreciations and amortizations (EBITDA) of USD 4.8m in the first quarter of the year compared to a loss of USD 10.1 in the same period last year.
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