PGS has been awarded a 3D exploration acquisition contract offshore Africa and said a Ramform Titan Class vessel was expected to mobilize for the 4-5 month survey in the fourth quarter.
“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,” says President & CEO in PGS, Rune Olav Pedersen.
Ramform Victory was planned to steam to Brazil for a large 4D contract survey for Petrobras later in Q3. However, PGS has subsequently been informed of further likely delays in receiving permits for the survey.
The steam to Brazil has therefore been postponed to early Q4, whereupon 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. Mobilization for the 4D contract survey is expected towards year-end, with an unchanged contract scope.
PGS announces contract awards and MultiClient projects as stock exchange releases if the contract has a value of US$10 million or more, MultiClient projects with a duration of two months or more and strategically important contracts.