By OGJ editors
HOUSTON, Jan. 13 -- PGS Production, a subsidiary of Petroleum Geo-Services ASA, has agreed to buy the shuttle tanker MT Rita Knutsen from Knutsen OAS Shipping for $35 million.
PGS plans to convert the ship to a floating production, storage, and offloading unit for possible use in several imminent projects.
The vessel conversion is scheduled to begin when a firm contract is secured. Rita Knutsen is a double-hull, 124,472 dwt vessel built by Daewoo Shipyard in Korea in 1986.