Tuesday, April 17, 2012

Mitsubishi extends seismic options



Petroleum Geo-Services (PGS) has secured six more months to decide if it wants to exercise two newbuilding options in Japan.

Mitsubishi Heavy Industries has given PGS until October to decide if it wants to go ahead with two extra seismic vessels.

The options were attached to an order placed last year for two firm orders for the Ramform design vessels plus two options, at a price of $250m each.

“The parties have now agreed to extend the exercise period for the options with six months,” PGS confirmed in a statement Monday.

Following the extension, the options for vessel three and four must be declared by 14 October 2012 for delivery in first and second half of 2015.

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