PGS Orders Another Two Ramform Titan Class Vessels

16 Oct 2012

Petroleum Geo-Services ASA (PGS) has exercised its options to order another two Ramform Titan-class vessels at Mitsubishi Heavy Industries Ltd.

Two vessels were ordered in 2011. The two additional vessels will be vessel number three and four in the Ramform Titan Class. When completed, the four new builds will be a part of the 11 vessel fleet of Ramform icons. The first vessels in the series have a planned delivery 1st quarter 2013.

The new generation Ramforms will strengthen PGS' unique position in the seismic industry. The decision to renew and expand the fleet comes at a time when demand for marine seismic services is increasing.

The Ramform Titan-class vessels have a planned delivery schedule as follows:

Vessel no. 1 1st quarter 2013
Vessel no. 2 4th quarter 2013
Vessel no. 3 1st half 2015
Vessel no. 4 2nd half 2015

The new Ramform Titan class will further enhance PGS' 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.

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 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.

The 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.

Ramform Titan Class Specifications

Name Ramform Titan Class
Owner Petroleum Geo-Services
Flag
Vessel Classification DNV +1A1, SPS, ICE C, E0, HELDK, RP,
CLEAN DESIGN, TMON, BIS, NAUT-AW,
VIBR, COMF-C(3) V(3)
Length 104.2 m
Breadth 70 m
Draft 6.4 m
Fuel capacity 6 000 m3
Endurance (production/transit) 150 days
Transit speed 16 knots
Main propulsion system Diesel electric
Propulsion type Triple CP propeller plant with nozzle and
propeller shaft, total 18MW
Engine plant 6 x 3840 kw
Accommodation (single berths) 60 single and 10 double cabins
Helideck 26m 15 t Super Puma/EH-101
Work boats 2 x 30' in stern cradle launching
Streamer winches 24 x 12 000m capacity

Petroleum Geo-Services is a focused geophysical company providing a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. The company also possesses the world's most extensive multi-client data library. PGS operates on a worldwide basis with headquarters at Lysaker, Norway. For more information on Petroleum Geo-Services visit www.pgs.com.

Petroleum Geo-Services ASA press release