Prosafe result sliced in half in 2015
Hotel and service rig provider Prosafe, along with its colleagues in the offshore industry, cannot escape the low oil price and the oil majors' eagerness to cut costs. A continued weak market in the short and medium-long terms, assesses the Norwegian company.
BY DANIEL LOGAN BERG-MUNCH
Norwegian Prosafe, which is the world's largest operator of hotel and service rigs, finds itself in the middle of a market which is dominated by an extremely low and unprofitable oil price. The major oil companies' steadfast effort to increase efficiency and cut costs as much as possible is taking its toll across the board of subcontractors, which are dependent on the oil majors' investments.
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