Marine geophysical company PGS announced it has been awarded a 3D exploration acquisition contract offshore Africa.
One of PGS' Ramform Titan Class vessel is expected to mobilize for the survey in the fourth quarter, subject to final approvals, and the program has a total duration of 4-5 months, the company said in a update on Thursday.
“We are very pleased with this contract award, which improves our visibility into H1 2024. There is increasing exploration interest in Africa and this award builds on the recent success of our Titan class vessels in this region,” said Rune Olav Pedersen, PGS' president and CEO.
In addition, PGS said it will postpone the mobilization of its vessel Ramform Victory to Brazil due to a permitting delay impacting the large 4D contract survey it was scheduled to perform for Petrobras later in Q3. The mobilization is now expected to occur toward year-end, with an unchanged contract scope.
In the meantime, the vessel will initially acquire data on an ongoing highly pre-funded MultiClient program until all permits are in place for the contracted 4D survey, PGS said.
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