PGS ASA bags acquisition contracts offshore Indonesia and Australia

PGS ASA said that it has bagged a 3D exploration acquisition contract in Indonesian waters from an undisclosed energy company.

The Norwegian marine geophysics company has also won a 4D acquisition contract in Australian waters from a global energy company.

In mid-October 2022, PGS ASA will mobilize the Ramform Sovereign research/survey vessel to execute the 3D exploration contract in Indonesia. The acquisition is likely to be wrapped up mid-December.

The Ramform Sovereign vessel will sail to Australia and mobilize to execute the 4D contract later this year. PGS ASA expects to wrap up the acquisition in late February 2023.

The Ramform Sovereign vessel will execute the acquisition contracts of PGS ASA in Indonesia and Australia. Photo courtesy of PGS.

Rune Olav Pedersen — PGS ASA President and CEO said: “We are very pleased with these two contract awards, which in combination constitute an acquisition campaign of close to five months.

“The seismic acquisition market in Asia-Pacific has been slower than in the Atlantic basins, so it is encouraging to experience increasing demand in the region, and we have good leads for additional work beyond the campaign we have already secured.”