The Norwegian offshore seismic data acquisition and processing company PGS said Thursday it had won a significant 4D production contract with Brazil's Petrobras.
The project will cover the Barracuda-Caratinga field in the Campos basin offshore Brazil, with mobilization slated for the second quarter of 2023.The acquisition is expected to complete early 2024.
PGS said that the Ramform Victory vessel would most likely be rigged to acquire the Barracuda-Caratinga 4D survey, supported by PGS Apollo as a source vessel.
The cost of mobilizing Ramform Victory is considered as part of the project, and no decision is taken with respect to operating the vessel after project completion, PGS said.
Rune Olav Pedersen, President & CEO of PGS, said: "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.
"Our visibility for 2023 is improving with increasing rates. To optimize our vessel resources during the summer season next year we will most likely use the Ramform Victory to acquire the Barracuda-Caratinga 4D survey."
As for the contract's worth, PGS did not provide exact details, but noted that it usually announces contract awards with a value of more than $10 million and multi-client projects with a duration of more than two months.