A big 3D exploratory acquisition contract offshore Indonesia has been given to PGS by a significant energy business. A significant 4D acquisition contract worth millions of dollars has also been given to the company by a multinational energy corporation offshore Australia. Mid-October will see Ramform Sovereign mobilise for the 3D exploration contract in Indonesia, and mid-December is when the acquisition is anticipated to be finished. After arriving in Australia, the vessel will mobilise for the 4D contract around year's end in 2022 and finish the purchase by the end of February 2023.
“We are very pleased with these two contract awards, which in combination constitute an acquisition campaign of close to five months. The seismic acquisition market in Asia-Pacific has been slower than in the Atlantic basins, so it is encouraging to experience increasing demand in the region, and we have good leads for additional work beyond the campaign we have already secured,” says President & CEO in PGS, Rune Olav Pedersen.