PGS Secures 160-day Seismic Survey Deal in Mediterranean Sea

Norwegian seismic services firm PGS said Monday it had secured a 3D exploration contract in the Mediterranean Sea.

PGS' Ramform Titan vessel is scheduled to mobilize for the survey in December, and the contract has a total duration of approximately 160 days.

"We are very pleased with this contract award securing work for the Ramform Titan through the winter season. The Mediterranean is a hotspot serving the European gas market and we see potential for more work in this prolific region," says Rune Olav Pedersen, President & CEO in PGS.

PGS did not say who the client was. 

While PGS did not share the value of the contract either, 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.

According to Ramform Titan's AIS, the vessel is currently moored in Souda, Greece.

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