PGS have been awarded a significant 4D production contract by Petrobras over the Barracuda-Caratinga field in the Campos basin offshore Brazil. Mobilization is scheduled to start in Q2 2023 and acquisition is expected to complete early 2024.

The Ramform Victory will most likely be rigged to acquire the Barracuda-Caratinga 4D survey, supported by PGS Apollo as a source vessel. The cost of mobilizing Ramform Victory is considered as part of the project and no decision is taken with respect to operating the vessel after project completion.

“We are very pleased with the Petrobras 4D contract award over the Barracuda-Caratinga field. PGS has acquired multiple 4D surveys offshore Brazil and gained significant operational experience in the region. We appreciate Petrobras’ recognition of our Ramform vessel acquisition platform in combination with our GeoStreamer technology, which are well suited for large, high-quality 4D acquisition programs.

"Our visibility for 2023 is improving with increasing rates. To optimize our vessel resources during the summer season next year we will most likely use the Ramform Victory to acquire the Barracuda-Caratinga 4D survey.”

PGS announces contract awards with a value of more than $10 million, and MultiClient projects with a duration of more than 2 months.

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