PGS: update on seismic acquisition contract in South America

The vessels Ramform Atlas and Ramform Tethys mobilised early December 2018 for this survey. The contract had an estimated total duration of approximately 13 vessel months and an estimated value in excess of US$75 million.

Due to unresolved issues affecting the survey, both vessels have been on paid standby from December 23, 2018.

The client, ExxonMobil, has notified PGS that the Ramform Atlas is no longer required. PGS will receive payment for mobilisation, work performed, standby and demobilisation. PGS expects to deploy the vessel on a MultiClient programme or contract survey shortly, but will incur idle time relating to steaming and possibly standby before commencing an alternative project.

ExxonMobil plans to deploy the Ramform Tethys to acquire a 4D survey offshore Guyana. The vessel will continue on paid standby until she commences the redefined programme. PGS expects the vessel to be operating in the area for at least three months.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/07012019/pgs-update-on-seismic-acquisition-contract-in-south-america/