PGS secures “large” seismic contract for exploration work offshore South Atlantic margin
(WO) – PGS has received a letter of award for a large 3D seismic contract offshore South Atlantic margin from a multiclient company. A Ramform Titan-class vessel is scheduled to commence mobilization in June, with a forecast acquisition duration of up to 300 days.
While PGS didn’t reveal the exact location of the contract, recent finds in Namibia and Uruguay suggest the work will take place in these emerging exploration hot spots.
“Seismic activity offshore South Atlantic margin is increasing as a result of recent exploration success, and we are very pleased with this letter of award, extending visibility for one of our Ramform Titan-class vessels well into 2025,” says Rune Olav Pedersen, President & CEO in PGS.
“The combination of the Ramform acquisition platform and our GeoStreamer technology is well suited for large scale exploration surveys and positioned to deliver strong operational performance over extended time periods,” Pedersen continued.
According to the company, PGS announces contract awards with a value of $10 million or more, MultiClient projects with a duration of 2 months or more, and strategically important contracts.
