Finance secured for latest PGS seismic vessels

Oct. 10, 2012
Petroleum Geo-Services ASA (OSLO:PGS) expects to take delivery next year of two new generation Ramform Titan-class vessels from Mitsubishi Heavy Industries.

Offshore staff

OSLO, Norway – Petroleum Geo-Services ASA (OSLO:PGS) expects to take delivery next year of two new generation Ramform Titan-class vessels from Mitsubishi Heavy Industries.

These wereordered in April 2011, with options for a further two vessels.  Export credit financing is now in place for the newbuilds in Japan.

Total estimated cost for each of the two vessels is around $250 million, including commissioning and a comprehensive seismic equipment package, but excluding capitalized interest.

10/10/2012

Courtesy Altera Infrastructure Holdings
Courtesy SBM Offshore's "Full-year Results 2023" presentation