Petroleum Geo-Services (PGS) is counting the cost of its vessels being intercepted by the Venezuelan Navy in offshore Guyana during December.

The Norwegian seismic survey vessel operator today said ExxonMobil would no longer need one of the two ships contracted in November to conduct surveys in Guyanese waters.

The two PGS ships, the 27,600-bhp Ramform Atlas (built 2014) and Ramform Tethys (built 2016), were mobilised in early December to the north-west portion of the Stabroek Block and were approached by the Venezuela Navy on 22 December.