Mitsubishi close to completing first of two newbuild Ramform seismic acquisition vessels

Offshore staff

LYSAKER, NorwayPGS expects to take delivery shortly of the new Ramform Titan-class seismic acquisition vessel Ramform Tethys from Mitsubishi Heavy Industries Shipbuilding in Japan.

Mitsubishi has agreed to move delivery of the new sister vessel Ramform Hyperion to 1Q 2017, pending receipt of final documentation and approval from the ECA financing banks.

Each vessel costs about $285 million, including commissioning and a comprehensive seismic equipment package, but excluding capitalized interest and post-delivery cost.

PGS hopes to reduce the cost using available equipment from its pool of in-sea kit.

Late last year four of the company’s fleet were cold-stacked: Ramform Challenger, Ramform Explorer, Ramform Valiant, and Ramform Viking.

Earlier this year the company took delivery from Sanco Shipping of the high-capacity conventional 3D vessels Sanco Swift and Sanco Sword on charters, and expects to start operating the vessels during 2Q and 4Q.

Both will be equipped with GeoStreamers made available from cold-stacked vessels. Around the time that Sanco Sword starts operations, PGS plans to cold-stack Ramform Vanguard.

02/16/2016

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