Offshore staff
OSLO, Norway — PGS has issued an update on the company’s planned merger with TGS.
The process remains under review by the competition authorities in the UK and Norway, where the Norwegian Competition Authority has resolved to continue its assessment via a Phase II review.
Completion of the merger remains conditional on customary closing conditions, including the remaining regulatory approvals, but should still go through during second-quarter 2024, PGS said.
The company also announced it had signed a collaboration agreement with HUB Ocean. This will use HUB Ocean's Ocean Data Platform and PGS' ocean data contributions to support the UN's Sustainable Development Goal 14 – Life below water.
Their first defined use case focuses on the waters off Brazil and improved understanding of marine mammal distribution patterns along the country’s coastline. PGS said it can apply improved predictions of mammal presence to optimize seismic data acquisition, helping campaigns avoid unplanned stoppages due to marine mammal observations.
Main goals of the collaboration include:
- Identifying and developing use cases through demonstrating the significance of industry ocean data in advancing ocean science while providing tangible benefits to PGS and other industry partners; and
- Prove data-sharing efficacy by validating that the HUB Ocean data partnership can enhance PGS’ internal efficiency and secure sharing of non-sensitive ocean data through a single, accessible distribution source for third parties.
02.14.2024
