PGS orders third generation Ramform

Petroleum Geo-Services ASA (PGS) in Norway has signed an agreement to build a new third generation Ramform vessel at Aker Yards, Langsten. The agreement is subject to satisfactory completion of a final contract and board approval in Aker Yards.

The new and improved Ramform class seismic vessel will cost $86 million (ex cost of seismic equipment) and is scheduled for delivery in the first quarter 2008, in time for the North Sea season. PGS also has an option of building a sister vessel at the same yard. Aker Yards has previously constructed all of the PGS’ six current Ramform vessels and the newbuilding will be the first for PGS since the delivery of ?Ramform Vanguard? in 1999.

The third generation Ramform is designed with a clear objective to further extend the PGS lead in 3D seismic acquisition productivity and efficiency. The design builds on the proven industry leading capabilities of the current Ramform fleet, while introducing several improvements. The vessel will be lengthened by approximately 16 metres, giving higher fuel capacity and transit speed. A substantial power upgrade will significantly increase speed while surveying. The vessel will be capable of towing up to 22 streamers. A range of technology improvements will be implemented to maintain or improve efficiency of handling, deployment, retrieval and maintenance of the in sea equipment.