PGS has been awarded a significant 3D exploration acquisition contract offshore Indonesia by a major energy company. Further, the Company has also been awarded a major 4D acquisition contract offshore Australia by an international energy company. Ramform Sovereign will mobilize for the 3D exploration contract in Indonesia mid-October and acquisition is expected to complete mid-December. The vessel will continue to Australia and mobilize for the 4D contract around year-end 2022 and complete acquisition towards 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.

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