PGS names the most sophisticated seismic vessel in the industry>
PGS names the most sophisticated seismic vessel in the industry
(Thomson Reuters ONE) - The most sophisticated vessel in the seismic industry, the22-streamer Ramform Sterling was named today at the yard inTomrefjord, Norway. The new vessel, a sister ship of RamformSovereign is 16 meters longer than the previous class Ramforms. Ithas significantly higher acquisition and transit speed, 25 percentlonger endurance, and 60 percent higher production capacity comparedto the previous Ramform class. The Ramform Sterling is the mostpowerful seismic ship in the world, with a power plant supplying 30000 horsepower.The vessel class features many new innovations; including the world'sfirst roll compensated helideck, steerable sources, dual workboatcapacity and unique gear handling systems. The range of technologiesemployed is the new benchmark for 3D, 4D and wide azimuth acquisition- in terms of productivity, efficiency, safety and data quality.Jon Erik Reinhardsen, President and CEO of PGS states in a comment:"This on-time delivery is an important milestone to PGS, as we arecombining the most sophisticated technology in the business, with thenewest vessel in the industry. Ramform Sterling is adding another ofthe world's most cost effective vessels to our fleet, giving PGS aclear competitive edge in the market."Ramform Sterling has a capacity of 22 streamers at 8 km length. The400 tons of highly sensitive electronic equipment deployed over anarea equivalent to 830 soccer pitches. The power station on RamformSterling generates up to 30 000 horsepower. When collecting seismicdata, the Ramform Sterling generates around 160 tons of thrust,equivalent to two Boeing 747 aircraft at takeoff. Ramform Sterlingcontains 53 cabins, all with separate bathrooms.Rune Eng, Group President Marine, states: "We are very excited at theprospect of getting another Ramform S-Class into operations. Therehas been enormous interest amongst our client base for the vessel,and despite the general slowdown in the seismic market we registerthat interest for the high productivity, efficiency and safety of theRamforms. Ramform Sterling already has several good projects lined upthroughout the year. We expect to set more industry records foroperational efficiency. Once again, this is a fantastic addition tothe fleet."The History of the RamformSince the first Ramform seismic vessel sailed out of the yard in May1995 its delta shaped design has become a trademark for PGS, a symbolof innovation and an icon for our industry. These ships have smashedabout every seismic production record and revolutionized the marineseismic industry. In 1995 3D seismic was an art, today it is anindustry. Thanks to the 40 meter broad beam and ultra-stable hullconstruction PGS was able to produce first more and more efficientseismic with ultra wide streamer tows, then better and betterresolution data with the introduction high density (HD3D) seismic andever higher streamer counts.The first Ramform vessel, the "Marjata", was a surveillance shipdesigned for the Norwegian navy. PGS spotted the potential of thevessel, quickly recognizing that the design silent operations andwide stern made her perfect for seismic acquisition where it isdesired to have as little noise as possible from the vessel itselfduring data acquisition. The unique broad stern design enables quickand safe deployment and retrieval of massive volumes of towed seismicequipment.The Ramform Explorer launched in 1995, was followed by the RamformChallenger in 1996, the four V-class vessels Ramforms Valiant andViking in 1998, Ramform Victory and Vanguard in 1999.The PGS Ramform vessels were the first to tow, eight, ten, twelve,fourteen, sixteen and seventeen streamers. The PGS Ramform vesselsremain the only seismic vessels capable of towing more than twelvestreamers, and the only seismic vessels routinely towing twelvestreamers. This streamer towing capability provides PGS withunmatched survey flexibilities, efficiency and operational safety.To download a picture of Ramform Sterling click the link below:http://hugin.info/115/R/1326465/312186.jpgFOR DETAILS, CONTACT:Tore Langballe, SVP Corporate CommunicationsPhone: +47 67 51 43 75Mobile: +47 90 77 78 41Bård Stenberg, Investor Relations ManagerPhone: +47 67 51 43 16Mobile: +47 99 24 52 35US Investor ServicesPhone: +1 281 509 8712 ****Petroleum Geo-Services is a focused geophysical company providing abroad range of seismic and reservoir services, including acquisition,processing, interpretation, and field evaluation. The company alsopossesses the world's most extensive multi-client data library. PGSoperates on a worldwide basis with headquarters at Lysaker, Norway.For more information on Petroleum Geo-Services visit www.pgs.com. ****The information included herein contains certain forward-lookingstatements that address activities, events or developments that theCompany expects, projects, believes or anticipates will or may occurin the future. These statements are based on various assumptions madeby the Company, which are beyond its control and are subject tocertain additional risks and uncertainties. The Company is subject toa large number of risk factors including but not limited to thedemand for seismic services, the demand for data from ourmulti-client data library, the attractiveness of our technology,unpredictable changes in governmental regulations affecting ourmarkets and extreme weather conditions. For a further description ofother relevant risk factors we refer to our Annual Report for 2008.As a result of these and other risk factors, actual events and ouractual results may differ materially from those indicated in orimplied by such forward-looking statements. The reservation is alsomade that inaccuracies or mistakes may occur in the information givenabove about current status of the Company or its business. Anyreliance on the information above is at the risk of the reader, andPGS disclaims any and all liability in this respect. --END--http://hugin.info/115/R/1326448/312185.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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