Offshore staff
OSLO, Norway — PGS has secured a 3D exploration acquisition contract offshore Indonesia from an unnamed major and a 4D acquisition contract offshore Australia from an international energy company.
Ramform Sovereign will mobilize in mid-October for the Indonesia 3D campaign, which should finish in mid-December. The vessel will then continue to Australia, starting the 4D contract around year-end 2022 and completing acquisition toward the end of February 2023.
PGS president and CEO Rune Olav Pedersen said, “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.”
In its latest results statement, the company reported that all its six active 3D vessels were back in operation during the second quarter, with the contract acquisition market improving further, and dominating vessel activity.
But revenues were hit by steaming and standby early in the quarter, and by mobilization on two surveys, where the revenue impact will be felt primarily in the third and fourth quarters.
Overall, the company grew its order book by almost 15% during the quarter, the fleet is fully booked through the third quarter, and the winter season is firming up with activity and pricing both looking positive.
07.21.2022
