Petroleum Geo Services : PGS Completes Newbuild Program – Fleet Stronger than Ever

The Ramform design was created by Roar Ramde in the early 1990's and has been taken to its ultimate expression by the Ramform Titan-class vessels. The first vessel of the Ramform Titan-class came in 2013 with the delivery of Ramform Titan, which was followed by Ramform Atlas in 2014 and Ramform Tethys in 2016. These three vessels have delivered beyond expectations on all aspects and especially within safety, efficiency and productivity. Now that the fourth, and last, member of the Ramform Titan-class family is delivered, the PGS fleet is stronger than ever before:

'The Ramform Hyperion completes our newbuild program and increases the productivity of the PGS fleet. The four Ramform Titan-class vessels and the two Ramform S-class vessels constitute our core fleet of ultra-high-end Ramforms. These vessels can tow more streamers than any other vessel as well as tow extremely wide streamer spreads. Hence, surveys can be tailor made to meet our customers' needs, be it the highest possible data quality or the most efficient coverage of a large exploration area.' says Per Arild Reksnes, Executive Vice President Operations.

Ramform Hyperion, along with its sister vessel the Ramform Tethys, comprise the two most powerful and efficient marine seismic acquisition vessels in the world.

The Ramform Titan-class design merges advanced maritime technology with the imaging capabilities of the GeoStreamer® seismic acquisition technology. The 70 meter broad stern allows ample space for 24 streamer reels: 16 reels aligned abreast and 8 reels further forward, with capacity for 12 kilometer streamers on each reel. Increased work space and advanced equipment handling mean safer and more robust operations. For PGS and its clients, safe, rapid deployment and retrieval of equipment, as well as greater operational capacity will translate into faster completion of surveys and increased uptime in marginal weather. The period between major yard stays is also extended by approximately 50%, compared to earlier generation vessels.

Jon Erik Reinhardsen, President and CEO of PGS highlights that the four Ramform Titan-class vessels set the new standard for seismic operations for the next 25 years:

'PGS only invests capital in newbuilds when differentiation can be achieved over a substantial part of the vessel's useful life in order to maximize return on the investment. We believe Ramform Hyperion and the three other Ramform Titan-class vessels are examples of such unique assets.'

NOTE: Pictures and more facts on the Ramform Hyperion are available here.

For details, contact:
Bård Stenberg, VP IR & Corporate Communications
Mobile: +47 992 45 235