Petroleum Geo-Services to lay up a third vessel

Petroleum Geo-Services to lay up a third vessel

Norwegian seismic specialist Petroleum Geo-Services has decided to lay up survey vessel Ramform Viking (built 1998), citing the need to reduce cost, expenditure and improve utilisation.

The vessel will go into layup after the completion of a project in offshore East Newfoundland in late October, joining Ramform Explorer and Ramform Challenger which are being laid up after the North Europe acquisition season.

Equipment from the Ramform Viking will be used on vessels in operation and it will also avoid a yard stay and classing in 2016, reducing maintenance costs by approximately $50m.

Petroleum Geo-Services said that laying up the three vessels will reduce quarterly cash costs next year by around $25-30m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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