PGS Secures 'Large' Offshore Wind Farm Characterization Contract in the U.S.

Sanco Swift - Credit: PGS
Sanco Swift - Credit: PGS

Norwegian offshore survey services firm PGS said Monday it had won a "large" offshore wind farm site characterization contract in the U.S. from a "leading renewable energy company."

PGS will use the Sanco Swift vessel which is rigged as an offshore wind site characterization vessel. 

Mobilization is scheduled for August 2023 and acquisition is expected to complete in February 2024, with total project duration of approximately 180 days. PGS said that the profitability of the project was in line with PGS' core business.

The project will be acquired with PGS ultra-high-resolution 3D (UHR3D) P-Cable. 

"This UHR3D system provides significantly more detailed subsurface data for shallower targets compared to traditional seismic acquisition systems," PGS said.

"Our geophysical approach to map and understand the shallow subsurface layers with our UHR3D system is significantly more efficient than conventional solutions. Energy companies acknowledge the value of shorter lead time for accessing high quality data, and we are ready to scale our UHR3D offering to capitalize on the market momentum," says Berit Osnes, Executive Vice President New Energy in PGS.

While PGS did not share information on the exact value of the contract, it is worth noting that PGS usually 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.

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