LONG BEACH, Calif. AP) -- The investigation into the failure of a Sea Launch rocket this month points to a software error in a ground system, the company said.

The three-stage rocket, carrying a satellite for London-based ICO Global Communications, fell into the Pacific after liftoff from a floating platform on March 12.

The software error would have failed to properly configure the rocket, causing a valve to remain open in the second stage pneumatic system, Sea Launch Co. said in a statement Wednesday.

The pneumatic system is involved in the operation and steering of the engine, and the loss of pressure would have reduced the performance so much that an on-board automatic flight termination system would have been triggered, the company said.

That command was issued about eight minutes after liftoff, Sea Launch said.

Sea Launch is a venture by Boeing Commercial Space Co. of Seattle, Russia's RSC Energia, Ukraine's KB Yuzhnoye/PO Yuzhmash, and the Anglo-Norwegian Kvaerner Group of Oslo.

Yuzhnoye and Energia spotted the software error in a post-launch data review, Sea Launch said, and initial review of the flight telemetry supports the scenario.

Independent investigations by the partners are continuing, but Sea Launch said the progress suggests the system will be ready for another launch by summer.

The first two launches of Sea Launch's Zenit 3-SL rocket were successful. The first rocket carried a dummy satellite. The second lifted a DirecTV satellite into orbit.

The Sea Launch system is a self-propelled launch platform converted from an oil-drilling rig and a ship that functions as a rocket assembly plant and launch control room.