Norway-based marine geophysical company PGS has announced significant developments in its vessel operations. One of its seismic acquisition vessels has been awarded a new exploration acquisition contract offshore Africa with an undisclosed firm. At the same time, the commencement of operations for another vessel in Brazil has experienced a delay.

The contract award involves PGS's Ramform Titan class vessel, built in 2013. Equipped with GeoStreamer technology and featuring 24 streamer reels, the vessel will mobilize for the 3D exploration acquisition contract offshore Africa in the fourth quarter of 2023, pending final approvals. This contract spans a duration of 4-5 months and underscores the growing interest in exploration activities in Africa.

Rune Olav Pedersen, President & CEO of PGS, expressed his satisfaction with the contract award, noting its positive impact on the company's visibility into the first half of 2024. He also highlighted the success of PGS's Titan class vessels in the region.

In a separate update, PGS conveyed news about its Ramform Victory vessel's operations in Brazil. Originally intended to undertake a large 4D contract survey for Petrobras over the Barracuda-Caratinga field in the Campos basin offshore Brazil in the third quarter of 2023, the project has encountered possible delays in receiving necessary permits. As a consequence, the start of operations in Brazil has been postponed to early in the fourth quarter of 2023.

To mitigate the impact of this delay, the Ramform Victory vessel will initially acquire data for an ongoing highly pre-funded MultiClient program while awaiting all required permits for the contracted 4D survey. The vessel, built in 1999, measures 86.2 meters in length and 39.6 meters in width, and it is capable of towing up to 18 streamers.

Despite the challenges posed by the permit delay in Brazil, PGS remains active and adaptable in its operations, striving to deliver comprehensive seismic survey solutions globally.2