Mitsubishi gets Ramform orders

16 Feb 2011

Norwegian-based Petroleum Geo-Services ASA (PGS) has signed a ‘letter of award’ with Mitsubishi Heavy Industries for the delivery of two Ramform W-class vessels, with the option for another two ships.

The 104.2m long, 70m wide vessels are the first in the new, fifth generationRamform series. Planned deliveries of the two first vessels are in 2013 and the two optional vessels in 2015.

PGS President and CEO, Jon Erik Reinhardsen states in a comment: “The new generation Ramforms will strengthen PGS’ unique position in the seismic industry. Our decision to renew and expand our fleet comes at a time when we expect growth in seismic demand.” The ‘letter of award’ is a part of the program to renew and expand PGS’ industry leading fleet of seismic vessels by building two fifth generation Ramform vessels, with an option for another two vessels. The new generation Ramforms’ total cost will be approximately $250 million each, including construction follow-up, commissioning and a comprehensive seismic package. The agreement with Mitsubishi Heavy Industries Ltd includes the option for delivery of further two identical vessels.”

The options must be declared within one year from signing of the final contract for the two first vessels.

PGS claims these fifth generation Ramform vessels will further enhance its position as a leader in 3D seismic acquisition productivity and efficiency. The vessels are designed to utilize and extract the full potential from the flagship GeoStreamer technology and PGS expects that all of its 3D fleet will be equipped with GeoStreamer by end 2013.

The vessel design is based on the demonstrated strengths of the current Ramform fleet, while improving capabilities along a number of key parameters. The new vessels will include a significantly upgraded GeoStreamer based seismic package and are designed to take the full benefits of the GeoStreamer towing efficiency. The vessels will further strengthen PGS’ leading position in the fast growing ‘high density’ segment of the market, where large spreads, long streamers and towing efficiency are the key success factors. The ‘high density’ segments are driven by deep water exploration and production in geologically complex areas such as Brazil, West Africa and the Gulf of Mexico.

GPS’ GeoStreamer technology is also opening up new markets in mature basins, such as the North Sea, where the higher fidelity data can reveal new geological plays.

The diesel electric power plant will comprise six 3,840kW gensets delivering power to the three CP propellers with nozzles giving the vessels a transit speed of 16 knots. 

The agreement is conditional of final approval of the final specifications, and other conditions.

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