PGS, Marine Geophysical Company, Finds Offshore Research Opportunity in Africa While Contract in Brazil with Ship Ramform Victory Is Delayed

The Acquisition of the New Offshore Research Contract, While Brazil’s Is Delayed, Reinforces the Duality of Challenges and Achievements in Maritime Exploration. PGS Is Now Preparing for New Operations on the African Coast.

PGS, a marine geophysical company based in Oslo, secured a new offshore research contract on the African coast this Monday, (28/08), deploying its Ramform Titan vessel with cutting-edge technology for 3D exploration. Meanwhile, in Brazil, the company is facing a delay in the initiation of its 4D research operations with its Ramform Victory vessel, seeking alternative data collection solutions until the necessary licenses are obtained.

PGS Announces New Offshore Operations Contract on the African Continent Coast

The renowned marine geophysical company PGS is enhancing its operations with a new prominent partnership.

While one of its vessels faces a delay in Brazil, another is preparing to embark on an exciting research mission on the African coast.

The company recently announced the acquisition of a 3D offshore exploration contract on the African coast.

The vessel chosen for this mission is the Ramform Titan, which is expected to be mobilized in the fourth quarter of 2023, subject to final approvals.

The research, anticipated to last 4 to 5 months, promises to deepen the understanding of the subsea geology in the region.

The seismic vessel Ramform Titan, built in 2013, is a true technological marvel of the maritime industry.

Equipped with the cutting-edge GeoStreamer technology, the vessel features 24 streamer reels, with 16 arranged side by side and an additional 8 in the second row.

Moreover, its efficiency is enhanced by six independent source handling booms on the rear deck, allowing for quicker deployment and recovery.

In this way, the company invests in operational quality in its new offshore research contract for the African region. 

Company Celebrates New Contract While Offshore Operations with the Ramform Victory Vessel in Brazil Are Delayed

Rune Olav Pedersen, the President and CEO of PGS, expressed his satisfaction with the acquisition of the new research contract in Africa.

He emphasized that this new partnership reinforces the company’s visibility on the international stage and responds to the growing interest in offshore exploration in the African region.

While PGS celebrates its achievement in Africa, it also faces challenges in Brazil.

The 4D research contract that was planned for its Ramform Victory vessel, intended for Petrobras, has been reported to possibly face delays.

Initially scheduled for the second quarter of 2023, the contract now faces uncertainties.

The delay has led to changes in plans for the Ramform Victory vessel in Brazil.

The mobilization for the 4D contract research has been rescheduled for the end of the year, but the company has not altered the scope of the contract.

While awaiting the necessary licenses, the vessel will continue acquiring data in a highly pre-funded MultiClient program.

The seismic vessel Ramform Victory, built in 1999, boasts impressive dimensions: 86.2 meters in length and 39.6 meters in width.

Its ability to tow up to 18 streamers makes it a key asset in PGS operations, once the licenses for the 4D research in Brazil are ready.

PGS’s journey in the maritime industry is now a narrative of challenges and achievements.

While facing delays and adjustments in a contract in Brazil, it advances with a promising research contract on the African coast.

About PGS

PGS ASA (PGS) is a marine geophysical company that offers a wide range of seismic and reservoir services, including data acquisition, imaging, interpretation, and field evaluation.

Its extensive MultiClient data library provides seismic images and 3D data of the subsurface below the seafloor, which oil and gas companies use to locate oil and gas reserves.