PGS, maritime geophysics company, finds offshore research opportunity in Africa, while contract in Brazil with the Ramform Victory vessel is postponed

Winning the new offshore research contract, while Brazil's is postponed, reinforces the duality of challenges and achievements in maritime exploration. PGS is now preparing for new operations on the African coast.

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

PGS announces new contract for offshore operations off the coast of the African continent

Renowned marine geophysics company PGS is boosting its operations with a landmark new partnership.

While one of its ships faces a delay in Brazil, another is preparing to embark on an exciting survey off the African coast.

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The company recently announced the award of an offshore 3D exploration contract off 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 survey, expected to last 4 to 5 months, promises to deepen the understanding of underwater geology in the region.

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

Equipped with state-of-the-art GeoStreamer technology, the ship has 24 streamer coils, 16 of which are arranged side by side and 8 more in the second row.

Additionally, her efficiency is enhanced by six independent source handling booms on the aft deck, allowing for more agile deployment and retrieval.

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 postponed

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

He highlighted that this new partnership reinforces the company's visibility on the international scene and responds to the growing interest in offshore exploration in the African region.

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

The 4D research contract that was planned for its vessel Ramform Victory, destined for Petrobras, was informed of a possible delay.

Initially slated for the second quarter of 2023, the contract now faces uncertainty.

The delay resulted in changing plans for the Ramform Victory vessel in Brazil.

Mobilization for the 4D contract survey was rescheduled for the end of the year, but the company did not change the scope of the contract.

Pending the necessary permits, the vessel will continue to acquire data under a highly pre-funded MultiClient program.

The seismic vessel Ramform Victory, built in 1999, has impressive dimensions: 86,2 meters long and 39,6 meters wide.

Its ability to tow up to 18 streamers makes it a key part of PGS operations once licenses for 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 to a contract in Brazil, it is moving forward with a promising research contract off the African coast.

About PGS

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

Its extensive MultiClient data library provides seismic imagery and 3D data about the subsurface below the ocean floor, which oil and gas companies use to find oil and gas reserves.