Petroleum Geo-Services ASA Orders Two Other Ramform Titan Class Vessels

Petroleum Geo-Services ASA (PGS) announced that it has exercised its options to order another two Ramform Titan-class vessels at Mitsubishi Heavy Industries Ltd. Two vessels were ordered in 2011. The two additional vessels will be vessel number three and four in the Ramform Titan Class. When completed, the four new builds will be a part of the 11 vessel fleet of Ramform icons. The first vessels in the series have a planned delivery for the first quarter of 2013. The new generation Ramforms will strengthen PGS' position in the seismic industry. The Ramform Titan-class vessels have a planned delivery schedule as follows: vessel number (no.) 1 - first quarter of 2013, vessel no. 2 - fourth quarter of 2013, vessel no. 3 - first half of 2015 and vessel no. 4 - second half of 2015.