PGS has been awarded a significant acquisition contract in the Black Sea. The project is scheduled to start mid-August 2021 and be completed in November. There are options related to the contract with potential for the program to extend well into 2022.

The Ramform Vanguard will acquire the survey using an exploration configuration towing a 12x8000 meter spread.

President & CEO in PGS, Rune Olav Pedersen, commented:
"We are pleased to be awarded this project, which is a solid contribution to our order book. We reactivated the Ramform Vanguard for the North Sea summer season because of increased seismic acquisition activity. The plan was to take her out of operation after the summer season. Sales leads and active tenders remain healthy, and this contract award is evidence of a continued positive market sentiment, which we believe will extend into the winter season. The Ramform Vanguard and her highly experienced crew, in combination with our proprietary GeoStreamer® technology makes us well positioned to efficiently acquire high quality multi-sensor data to confidently de-risk subsurface exploration."

KeyFacts Energy Industry Directory: PGS