PGS Wins 3D Survey Deal in the Mediterranean

Ramform Hyperion ©PGS
Ramform Hyperion ©PGS

Norwegian seismic service firm PGS has secured a 3D exploration acquisition contract in the Mediterranean with an unnamed "major international energy company."

PGS will mobilize the Ramform Hyperion seismic vessel for the survey late third quarter. The survey will take around 70 days to complete.

"We are very pleased with this contract award, which improves our visibility into the fourth quarter. There is increasing exploration interest in the
Mediterranean following recent discoveries in this prolific gas province, and this award builds on our successful campaign from the previous season," says President & CEO in PGS, Rune Olav Pedersen.

While PGS did not share information on the value of the contract, it is worth noting that PGS announces contract awards and MultiClient projects as stock exchange releases if the contract has a value of $10 million or more, MultiClient projects with a duration of 2 months or more and strategically important contracts.

This is the second PGS contract announcement in as many days involving the Ramform Hyperion. PGS said Wednesday it had secured industry pre-funding for large multi-season MultiClient survey in the Norwegian Sea. 

PGS will acquire the first phase of the survey in 2023 using the Ramform Hyperion seismic survey vessel. The survey is scheduled to start late June with a duration of approximately 75 days. The second phase of the survey will be completed in the 2024 season with a further approximately 70 days of acquisition.

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