The Ramform Tethys is a PGS vessel that formerly operated in Guyana, until encroachments from Venezuela forced it to halt its work in 2018
Oil giant ExxonMobil has contracted Norwegian company Petroleum and Geo Services (PGS) to provide one of their Titan class ships for 4D seismic surveys in the Stabroek Block offshore Guyana.
The announcement was made by PGS itself, which issued a statement explaining that a Titan class vessel will be mobilised for the project in the latter part of the year. It was further explained that the process will be completed by 2022 first quarter.
According to President and Chief Executive Officer (CEO) of PGS, Rune Olav Pedersen, this latest contract is indicative of the quality of service they provide, with their Ramform seismic fleet.
“We acquired the 4D baseline of this area and consider it strategically important for us to be awarded a repeat survey for parts of the initial programme,” Pedersen was quoted as saying in the statement.
“We are very pleased with the recognition of our Ramform acquisition platform and superior multi-sensor GeoStreamer technology, which are well suited for high-quality 4D acquisition programs. The contract adds further visibility to our order book for the coming winter season.”
The Stabroek Block is 6.6 million acres (26,800 square kilometres). EEPGL is the operator and holds 45 per cent interest in the Block. Hess Guyana Exploration Ltd holds 30 per cent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds the remaining 25 per cent interest.
ExxonMobil has said it anticipates at least six projects offshore Guyana will be online by 2027. A fourth project, Yellowtail, has been identified within the block with anticipated start up in late 2025 pending Government approvals and project sanctioning. This project will develop the Yellowtail and Redtail fields, which are located about 19 miles (30 kilometres) southeast of the Liza developments.
PGS has some history in Guyana. Back in December 2018, ExxonMobil was forced to suspend its 3D seismic tests it had started only a month prior in the Stabroek Block; after the appearance and approach of the Venezuelan navy caused the company’s seismic vessel to pack up shop and vacate the area.
Ramform Tethys, the vessel in question, is one of the Ramform line of ships owned by PGS. The company was at the time under contract by Exxon to carry out tests and acquire seismic data. The incident came at a time when Guyana had an ongoing territorial integrity case with Venezuela.
When Exxon announced the first of multiple oil finds in local waters in 2015, Venezuela renewed its claim to two-thirds of Guyana’s territory. Venezuela has been against oil exploration in Guyana’s Stabroek Block, where multiple oil deposits were found by ExxonMobil, and has since renewed claims to the Essequibo region.
On January 30, 2018, Secretary General of the United Nations Antonio Guterres concluded that the Good Offices Process – which the parties had engaged in for almost 30 years, but it failed to achieve a solution to the controversy – and chose the ICJ as the next means of settlement, for which Guyana has long been advocating.
However, Venezuela had claimed, in a letter to the World Court, that the Secretary General exceeded his authority under the Geneva Agreement, and therefore, the Court lacks jurisdiction to adjudicate the lawsuit filed by Guyana.
Back in March 2021, the ICJ had granted Guyana until March 8, 2022, to file its written submissions for the case, after requesting 12 months. Venezuela was given until March 8, 2023, to submit its counter memorial.
