PGS updates seismic vessel fleet developments

Offshore staff

LYSAKER, NorwayPGS expects to take delivery early next year of the newbuild seismic acquisition vessel Ramform Hyperion, currently under construction at the Mitsubishi Heavy Industries Shipbuilding yard in Japan.

Capex will likely be around $265-270 million, including commissioning and a comprehensive seismic equipment package, but excluding capitalized interest and post-delivery cost.

The price has been reduced, PGS adds, compared to earlier indications due to cost savings and re-use of available seismic equipment. Half is payable on delivery.

During 4Q 2015, PGS entered into charter agreements with Sanco Shipping for the modern high capacity 3D vessels Sanco Swift and Sanco Sword with delivery in 1Q 2016.

The Sanco Swift was rigged and began operating in April. The Sanco Sword was due to be rigged simultaneously to coincide with cold-stacking of the Ramform Vanguard during the second half of this year. However, rigging has now been postponed with the Ramform Vanguard warm-stacked over the winter season.

10/27/2016

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