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    1. Vessels

    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