PGS Leverages Multiyear Equinor Frame Agreement

Source: www.gulfoilandgas.com 4/27/2022, Location: Europe

PGS leverages the multiyear frame agreement with Equinor, announced last year, to secure contracts for the 2022 summer season.

PGS is awarded 4D GeoStreamer monitoring surveys over the Visund field in the North Sea and the Snøhvit field in the Barents Sea. Further, the Company was recently awarded a 3D exploration survey over the Prinsen and Hassel Ferdinand prospects in the Barents Sea.

Earlier this year PGS announced award of the Northern Lights CO2 storage acquisition contract. The Equinor 2022 acquisition campaign is scheduled to start in Q2 with an estimated duration of close to 5.5 vessel months.

“ We are very pleased with the Equinor contract awards for the 2022 season , building on the frame agreement we entered into last year . We operate in a cyclical industry with low visibility , and longer-term agreements improve our order book in a recovering seismic market. An important part of our strategy is to maintain leadership in the production 4 D segment . Equinor’s continued confidence in our reliab le Ramform vessels and the superior GeoStreamer data quality supports our strategic ambition , ” says President & CEO in PGS, Rune Olav Pedersen.


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