PGS awarded 3D exploration contract offshore Africa
(WO) – PGS was awarded a 3D exploration acquisition contract offshore Africa. A Ramform Titan Class vessel is expected to mobilize for the survey in the fourth quarter, and the program has a total duration of 4-5 months.
“There is increasing exploration interest in Africa, and this award builds on the recent success of our Titan class vessels in this region,” says President & CEO in PGS, Rune Olav Pedersen.
Ramform Victory was planned to steam to Brazil for a large 4D contract survey for Petrobras later in Q3. Subsequently, PGS has been informed of the likely further delay in receiving permits for the survey.
The steam to Brazil has been postponed to early Q4, where the vessel will initially acquire data on an ongoing highly pre-funded multiclient program until all permits are in place for the contracted 4D survey. Mobilization for the 4D contract survey is expected towards year-end, with an unchanged contract scope.
According to a company statement, PGS announces contract awards and multiclient projects if the contract has a value of $10 million or more, multiclient projects with a duration of 2 months or more and strategically important contracts.