PGS commences large-scale 4D seismic survey for Petrobras over Barracuda Caratinga fields

PGS ASA, a prominent marine geophysical company, has officially started data acquisition for a significant 4D seismic monitoring project over the Barracuda Caratinga fields for Petrobras. This initiative marks a critical phase of the project following the final permit approval by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA).

Project Details and Strategic Significance

The contract for the 4D seismic survey, valued significantly, was awarded to PGS in December 2022, with original project startup targeted for mid-2023. The survey’s commencement is set for early June 2025, after overcoming permitting hurdles and optimizing vessel resources. The Ramform Victory vessel has been reactivated specifically for this project and has transitioned from undertaking several lucrative MultiClient programs during the pending period.

By September 2025, Ramform Victory will be joined by PGS Apollo as a source vessel to address the more complex segments of the survey, ensuring comprehensive data coverage. The project’s duration is anticipated to span approximately eight months, wrapping up a meticulous study of the Barracuda Caratinga fields.

Corporate and Operational Excellence

Adrian Burke, Vice President of Brazil Operations at PGS, expressed satisfaction with the project’s progress: “The Operations and Sales & Services organizations of PGS have been working relentlessly to plan and optimize this project. As with previous large and complex 4D projects in Brazil, the team is ready to deliver according to the plan at Barracuda Caratinga.”

Rune Olav Pedersen, President & CEO of PGS, highlighted the company’s expertise and strategic asset utilization: “We are very pleased that all permits are obtained, and that we are about to start on the large Petrobras 4D contract. PGS has acquired multiple 4D surveys offshore Brazil and gained significant operational experience in the region. We appreciate Petrobras’ recognition of our Ramform vessel acquisition platform in combination with our GeoStreamer technology, which are well suited for large, high-quality 4D acquisition programs.”

The commencement of this 4D seismic survey by PGS for Petrobras underscores a growing trend in the oil and gas industry towards enhanced reservoir management and monitoring. Utilizing advanced technologies like PGS’s GeoStreamer, companies can achieve more accurate data insights, leading to optimized extraction strategies and ultimately, more sustainable resource management.

With the project now in full swing, both PGS and Petrobras are set to benefit from this collaboration. PGS’s commitment to delivering high-quality data and its continuous investment in technology and vessel optimization stand as testament to its leading position in the geophysical services market.