Company Updates

MGPalaeo Honour Australia’s most famous Palynologists with Artwork at New Lab

07/10/2025 Posted by Rachel

MGPalaeo are excited to announce their fully rebuilt laboratory offering significantly more space for an expanding suite of services. They have also taken the opportunity to decorate the place with a mural including selected palynomorphs honouring some of Australia’s most famous palynologists. Read on to learn more about their motivation and the palynologists their artwork honoured.

Time for a rebuild

The original lab was built in 2012 after relocating the main office from Maitland (South Australia) to Perth (Western Australia).

Vp/Vs ratio conventional vs Web-AVO inversion

eFWI Using WEB-AVO at Delft Inversion

07/08/2025 Posted by Janny

By John Coffin

This year we have seen plenty of publicity and interest in elastic full waveform inversion, or eFWI and the potential benefits and advantages it can provide. At Delft Inversion we have been using eFWI for over 12 years focussing on quantitative interpretation and seismic reservoir characterisation. This article explains how and why we do this.

The eFWI technology developed at Delft Inversion is called WEB-AVO which stands for Wave Equation Based AVO inversion. So, what does this mean? We solve the integral representation of the wave equation.

PGS advances seismic data interpretation capability through collaboration agreement with Austin-based Onward

25/05/2024 Posted by Dale

PGS has announced a collaboration that facilitates on-demand data interpretation provided by Onward, which leverages Onward's technical capabilities to enhance PGS' existing MultiClient and Data OnDemand services and accelerate interpretation workflows.

The collaboration between Onward and PGS gives subscribers of PGS' OnDemand services the option to access Onward's interpretation services and unlock the subsurface potential of extensive seismic data sets. PGS subscribers that engage Onward's additional services will have access to Onward’s global community of geoscience and data science experts who leverage industry-leading analysis tools in a cloud-based environment (subject to certain conditions).

CGG Changes Name to Viridien

18/05/2024 Posted by Dale

At the Annual General Meeting on May 15, 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien.

Sophie Zurquiyah, CEO, Viridien, said: “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an Advanced Technology, Digital and Earth Data Company.”

To further support its growth strategy, the company will launch the new Viridien brand on 10th June at the upcoming EAGE Annual Conference in Oslo, further strengthening its focus across a portfolio of solutions including the Core businesses of Geoscience, Earth Data and Sensing & Monitoring, as well as new offerings in both the Low Carbon markets of Minerals & Mining and CCS, and markets beyond energy in High-Performance Computing (HPC) and Infrastructure Monitoring.

PGS Goes Hydrocarbon Hunting in West Africa

12/05/2024 Posted by Dale

PGS has been awarded a 4D contract in West Africa for an international energy company.

Mobilization is scheduled for early September and the contract has a total duration of approximately 65 days, with an option to extend.

“We are very pleased with this contract award, securing visibility for another of our vessels well into the fourth quarter. After completion of scheduled acquisitions programs during the Northern Europe summer season we will steam a vessel to West Africa to commence this contract.

"By combining the Ramform acquisition platform with our proprietary multi-sensor GeoStreamer technology we will provide the client with high-quality 4D seismic data,” says Rune Olav Pedersen, President & CEO in PGS.

PGS reports decline in revenue for 2023

30/04/2024 Posted by Dale

PGS ended the full year 2023 benefitting from an improving data acquisition market with high pre-funding level on MultiClient projects and increasing profitability for contract work.

Nevertheless, revenues declined compared to 2022 due to unexpected scheduling and operational challenges, and lower than expected MultiClient late sales.

This was revealed in PGS’s recent 2023 Annual Report in which outgoing President and CEO Rune Olav Pedersen said of the roller coaster ride through the year: “We entered 2023 with a strong order book in a recovering seismic market. Our integrated service offering enabled us to leverage the market recovery.

Tamboran steps on the gas with Origin agreement in the Top End

30/04/2024 Posted by Dale

Tamboran Resources has announced that the Tamboran/Sheffield JV has entered into a 10-year Gas Sales Agreement for up to 36.5 PJ per annum (18.3 PJ per annum net to Tamboran) with energy retailer Origin.

This follows a MOU executed in June 2022 with gas pipeline operator, Jemena, to enable Tamboran to contract ~100 TJ per day of firm capacity through the Northern Gas Pipeline, subject to applying NGP Access Principles, under a long-term gas transportation agreement.Tamboran Resources' pure focus is on its acreage portfolio in the Beetaloo/McArthur Basin in the Northern Territory, where it is the largest acreage holder with ~1.

PGS Contract Award in Northern Europe

15/04/2024 Posted by Dale

PGS has been awarded a 4D contract in Northern Europe for an independent energy company. The Ramform Tethys is scheduled to mobilize for the survey in late April and the project has a total duration of approximately 30 days.

“We are very pleased with this contract award, marking the start of the Northern Europe summer season for the Ramform Tethys. By combining the Ramform acquisition platform with our proprietary multi-sensor GeoStreamer technology we will quickly provide the client with high-quality 4D seismic data,” says Rune Olav Pedersen, President & CEO in PGS.

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 two months or more, and strategically important contracts.

Shearwater Geoservices Completes US$700 million Debt Refinancing.

15/04/2024 Posted by Dale

Shearwater Geoservices has completed the refinancing of its long-term secured debt portfolio.Shearwater Geoservices had issued a five-year US$300 million senior secured first lien bond and then executed a new $US300 million five-year bank term loan with net proceeds used to repay previous secured debt facilities. The bonds rank pari passu with the term loan. Shearwater has also established a US$50 million revolving credit facility (RCF) and a US$50 million guarantee facility.“Shearwater has established a strong foundation for growth and value creation as a global leader within the marine seismic industry in terms of capabilities, capacity and financial standing.

Sercel Announces First Commercial Sale of its New 528 Land Acquisition System

15/04/2024 Posted by Dale

CGG has announced the first major sale - by Sercel - of the Sensing & Monitoring business line of its next-generation 528™ cable-based land acquisition system to the Turkish Petroleum International Corporation (TPIC).

CGG said the client would deploy the system, representing a total of 8,000 channels, on a 3D seismic survey in Turkey, across challenging, semi-arid terrain.

Delivery of the system commenced at the end of March, with the survey expected to start in Q3 2024.

The sale follows the recent launch of Sercel’s new 528 and VE564 land seismic solutions, designed to maximize client return on investment by reducing downtime and boosting productivity even in the harshest of terrains.