Prosafe SE (Prosafe) is the world’s largest owner and operator of semisubmersible accommodation rigs, a niche segment within the offshore oil & gas industry. Accommodation rigs are employed by clients (major oil companies) for installation of new facilities, upgrading or maintaining existing installations, hooking-up satellite fields to existing infrastructure, and removing installations. The oil price and oil companies’ exploration and production budgets are the underlying drivers for the offshore service industry. The business is exposed to the latter part of an oil field’s life cycle, and demand is driven by modification and maintenance work on oil fields.