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    PGS   NO0010199151

PGS ASA

(PGS)
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PGS : Sets Multiple Acquisition Records

09/14/2021 | 03:35am EDT

In late-May PGS mobilized for a simultaneous node and streamer acquisition contract for Lundin Energy Norway (and partners in PL1083) in the Barents Sea. The project was completed mid-August and during the survey PGS set several acquisition records. ​​​​​​​ 

​​​​Meeting the technology requirements was essential to winning the contract. PGS provided an innovative solution, including an ultra-wide hexa-source configuration towed behind the Sanco Swift, on top of a massive, high-density 3D GeoStreamer spread towed behind the Ramform Hyperion, and a unique node-deployment solution.

Ramform Hyperion towing 18 x 75m x 8 025m GeoStreamer spread.

The survey area covered 3 812 square kilometers in a tandem source-over-streamer operation. The GeoStreamer spread towed behind the Ramform Hyperion comprised of 18 streamers with 75-meter separation and 8 025 meters length – setting a world-record for quantity of towed streamers, 144.45 kilometers. The Sanco Swift’s ultra-wide hexa-source was also a record breaker, at 437.5 meters this is the widest source spread ever towed.

Sanco Swift towing 437.5 meters wide hexa-source.

A substantial portion of the survey area was also covered with a sparse grid of approximately 1 000 ocean bottom nodes, the first survey to use automated free-dropped nodes. To deploy the nodes onto the seabed, PGS designed a conveyor belt system, installed on a support vessel, which provided greater efficiency and lower HSE exposure than other node deployment solutions. The nodes were safely retrieved from the seafloor using an ROV, with 100% node recovery.

The successful management of this integrated technology project in a complex offshore setting, including the most advanced in-sea equipment configuration to date, is further proof of PGS operational capability and that this capability translates smoothly from streamer to node operationssays Rob Adams, EVP Operations in PGS.

Records: ​​​​​​​​​​​​​​

  • World record: Largest streamer count amounting to 144.45 kilometers of streamer deployed.
  • World record: Widest towed 437.5 meters hexa-source.


© OMX, source GlobeNewswire - EU Press Releases

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Financials (USD)
Sales 2021 596 M - -
Net income 2021 -148 M - -
Net Debt 2021 983 M - -
P/E ratio 2021 -1,28x
Yield 2021 -
Capitalization 183 M 183 M -
EV / Sales 2021 1,96x
EV / Sales 2022 1,72x
Nbr of Employees 862
Free-Float 95,9%
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Number of Analysts 8
Last Close Price 0,46 $
Average target price 0,61 $
Spread / Average Target 33,0%
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Managers and Directors
Rune Olav Pedersen President & Chief Executive Officer
Gottfred Langseth Chief Financial Officer & Executive Vice President
Walter Hafslo Qvam Chairman
Rob Adams Executive Vice President-Operations
Anne Grethe Dalane Vice Chairman
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