PGS Extends Service Agreement with Wartsila

Petroleum Geo-Services has awarded a five-year Service Agreement to Wärtsilä covering maintenance of the power plants onboard three offshore FPSO (Floating, Production, Storage and Offloading) vessels. The agreement applies to the Petrojarl Foinaven, the Petrojarl Varg and the Petrojarl 1, which are operating in the North Sea and the north Atlantic ocean.

With Wärtsilä maintaining the vessel's power plants at all times, Petroleum Geo-Services is able to concentrate on its core business of offshore capabilities in floating production and storage facilities. The ongoing power plant servicing provides the vessels with optimized availability together with cost savings, risk mitigation and financial predictability.

The new Service Agreement is an extension of the first Service Agreements between Petroleum Geo-Services and Wärtsilä which were signed back in June 1999 for the Petrojarl Foinaven's 51 MW power plant, in November 1999 for the Petrojarl Varg's 36.7 MW power plant and in January 2002 for the Petrojarl 1's 12 MW power plant.

Wärtsilä has had a permanent power plant maintenance crew onboard the three vessels at all times since January 2002. During overhauls, Wärtsilä sends additional service crew to complete the job within the time required. Wärtsilä also supplies all spare parts and consumables. The purpose of this commitment is to keep unplanned downtime as short as possible.

This type of agreement enables Wärtsilä to integrate its team with the onboard crew. This gives the Wärtsilä engineers familiarity with the procedures of the company and routines onboard the FPSO vessels while Wärtsilä provides the same level of safety and reliability as the company in order to avoid incidents.

This service agreement typifies the high level of supplier partnership expertise that effectively uses the capabilities of both customer and supplier, benefiting both parties. Thanks to its extensive service organization Wärtsilä can optimize the use of resources, bringing cost-effective and reliable service to its customers.