One Petroleum Geo-Services (PGS) survey vessel will return to the market and another will remain on paid standby after changes to a charter contract for 3D survey work in South America with ExxonMobil.
The Oslo, Norway-based survey specialist announced on 7 January it had been notified by ExxonMobil that Ramform Atlas's services were no longer required.
Ramform Atlas and Ramform Tethys were mobilised in early December 2018 for survey work in South America for 13 months at a value of approximagely US$75M, but both vessels have been on paid standby since 23 December due to “unresolved issues affecting the survey,” PGS said in an investor announcement.
Ramform Tethys remains on charter and ExxonMobil plans to deploy it to carry out a 4D survey offshore Guyana, which is expected to last at least three months, PGS said.
PGS intends to deploy Ramform Atlas on a multiclient-programme or contract survey shortly, but noted that the vessel “will incur idle time relating to steaming and possibly standby before commencing an alternative project.”
Ramform Atlas and Ramform Tethys are both Titan-class survey vessels. The Titan-class carries 24 streamer reels – 16 abreast, with 8 in a second row – and 22 town points on its 70-m back deck. It can deploy two stern-launched workboats and is fitted with three variable pitch propellers providing 1.8 MW of power. Ramform Atlasand Ramform Tethys were both built by Mitsubishi Heavy Industries in Nagasaki, Japan, the former in 2014 and the latter in 2016.
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