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Multiclient News

05 May 2022

PGS to Start Large Offshore Survey in Norwegian Sea Next Week

Ramform Atlas - Credit: PGS

Norwegian seismic company PGS said Thursday it had secured solid industry pre-funding for a large MultiClient survey on the Northwest shelf of the Norwegian Sea. The Ramform Atlas vessel is currently mobilizing for the survey, with scheduled acquisition starting around May 10.President & CEO in PGS, Rune Olav Pedersen said:"This is the first large-scale MultiClient survey we are acquiring offshore Norway since 2020, as we experience increasing demand for high-fidelity MultiClient data from renewed exploration interest among our clients.

03 May 2022

PGS Wins Wide Azimuth 3D Survey Contract Offshore Cyprus

Credit: PGS

Norwegian marine seismic survey company PGS has won a Wide Azimuth 3D acquisition contract offshore Cyprus. PGS, which owns a fleet of seismic survey vessels, said that mobilization was scheduled to start in mid-June. The acquisition is expected to complete in mid-August.President & CEO of PGS, Rune Olav Pedersen said: "We are very pleased with this contract award, which is an importantcontribution to our vessel utilization during the summer season. The Eastern Mediterranean is a prolific gas region and a well-known area to PGS.

22 Jul 2021

TGS, PGS, WesternGeco in 6,400 sq km Seismic Survey Offshore Malaysia

Credit: PGS

Offshore seismic data and services trio TGS, PGS, and Schlumberger's WesternGeco, have secured pre-funding for a 6,400 square kilometer multi-client 3D survey starting in October in the Sarawak Basin, offshore Malaysia.The survey is the first phase of a multi-year contract awarded by the Malaysian national oil firm Petronas in 2020 through competitive bidding to acquire and process up to 105,000 square kilometers of multi-client 3D data over a 5-year period in the Basin. The first…

15 Feb 2021

PGS Kicks Off 3D Seismic Survey Off Angola

Credit: PGS

Norwegian marine seismic data firm PGS, in partnership with Angola's ANPG, has started a new MultiClient 3D survey in the Lower Congo Basin, near the river plume of the Congo in Angola Block 1/14. The acquisition phase will continue until April and fast-track data is expected in October 2021, the company said Monday. PGS said the survey was fully prefunded.As part ot the survey, the Ramform Atlas vessel is acquiring high-density 3D GeoStreamer data using a 10 x 8 025 m streamer spread.

15 Feb 2021

Autonomy: Inside the Building of Ocean Infinity’s Armada Fleet

Image Courtesy Ocean Infinity

Back in 2017, Ocean Infinity made a novel move; deploying six autonomous underwater vehicles (AUVs), instead of just one, from a single vessel, vastly increasing the ground that could be covered in a single survey. Now the firm is taking the use of remote, robotic systems a significant step further.Back in 2017, Ocean Infinity made a novel move; deploying six autonomous underwater vehicles (AUVs), instead of just one, from a single vessel, vastly increasing the ground that could be covered in a single survey.

07 Jan 2019

PGS Updates on Seismic Acquisition Contract in South America

Norwegian seismic player Petroleum Geo-Services ASA (PGS) updated on changes of the contract for the 3D survey in South America announced November 14, 2018.The vessels Ramform Atlas and Ramform Tethys mobilized early December 2018 for this survey. The contract had an estimated total duration of approximately 13 vessel months and an estimated value in excess of $75 million, the marine geophysical company said.Due to unresolved issues affecting the survey, both vessels have been on paid standby from December 23, 2018.The client, ExxonMobil, has notified PGS that the Ramform Atlas is no longer required. PGS will receive payment for mobilization, work performed, standby and demobilization.

22 Aug 2018

Shearwater to Buy Schlumberger’s Seismic Business

Norwegian marine geophysical services company Shearwater GeoServices Holding AS has entered into a definitive agreement to acquire the marine seismic acquisition assets and operations of Schlumberger’s geophysical services product line, WesternGeco.The transaction, which remains subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of 2018.Houston based Schlumberger will receive cash consideration based on an enterprise value of $600 million plus a 15 percent post-closing equity interest in Shearwater. For a limited period, Schlumberger  will be entitled to payments under an earn-out agreement linked to future vessel usage over and above specific thresholds.

19 Jul 2018

PGS Below Q2 Expectations but Outlook Improves

(Photo: PGS)

Shares of seismic services company PGS, which surveys the seabed for oil and gas deposits, dropped on Thursday on lower-than expected second-quarter results but its CEO said the market outlook was improving.PGS's April-June core operating earnings (EBITDA) rose to $136.0 million, below the $144 million expected by analysts in a Reuters poll, but up from $112.5 million in same quarter last year.Its shares traded three percent down by 0911 GMT, after dropping eight percent in early trade."We see a clear sign of improvement, it's a lot more tender activity, and we have realised higher contract pr

27 Aug 2017

Petroleum Geo-Services Appoints Rune Olav Pedersen as President & CEO

The Board of Directors of Petroleum Geo-Services ASA (PGS) has appointed Rune Olav Pedersen (47) as the new President & CEO of the Company. He will succeed Jon Erik Reinhardsen on 1 September 2017. "The Board has run a thorough succession process since early spring, and assessed a number of very qualified Norwegian and international candidates. With the appointment of Mr. Pedersen, PGS will get a CEO with deep knowledge of the Company and industry and with strong execution capabilities. We look forward to working closely with Mr. Pedersen in the time to come," says Chairperson Walter Qvam. Rune Olav Pedersen has worked in PGS for 7 years and comes from the position of Executive Vice President & General Counsel.

24 Feb 2017

TGS, Schlumberger reimaging central GOM

TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the highly prospective Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is anticipated. The new Fusion M-WAZ reimaging program comprises data covering more than 1,000 Outer Continental Shelf (OCS) blocks (~23,000 km2) from 3D WAZ programs previously acquired by TGS and Schlumberger with the WesternGeco Q-Marine* point-receiver marine seismic system between 2008 and 2012. This large reimaging program will process data from the Mississippi Canyon…

04 Aug 2016

Dual Coil Shooting Full-Azimuth Multiclient Acquisition in GoM

TGS and Schlumberger today announce commencement of the Dual Coil Shooting* multi-vessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon, Atwater Valley and Ewing Bank protraction areas of the Central Gulf of Mexico. The Revolution XIl and XIII surveys will be acquired using the Schlumberger WesternGeco Q-Marine* point-receiver marine seismic system combined with the proprietary multivessel, Dual Coil Shooting acquisition technique, which will provide broadband, long-offset, full-azimuth data. This combination of leading-edge technology and technique will improve illumination and imaging of the sub-salt and other complex geologic features in this highly active region.

21 Jul 2016

PGS Revenue Slumps

Petroleum Geo-Services ASA reported revenue fall in their recently released Second Quarter and First Half 2016 Results. It logged a healthy MultiClient Sales and continues to undertake cost reductions. "With the gradual recovery of the oil price from its lows in early Q1, we are starting to see early signs of a stabilizing market and improving sentiment," observed Jon Erik Reinhardsen, President and Chief Executive Officer. "We believe that this has started to impact our MultiClient performance positively. The marine contract market is still characterized by very low pricing, but here too we see indications of more predictable patterns in customer survey planning and contracting processes.

29 Jun 2016

Another Fugro Vessels Joins Largest SEEP-Hunting Survey

Fugro has deployed multi-purpose offshore survey vessel Fugro Gauss to join the Fugro Brasilis offshore Mexico, to help complete the world’s largest seep-hunting survey for multiclient geoscience data company, TGS. Both Fugro vessels are using hull-mounted multibeam echosounders (12 kHz on Fugro Gauss and 30 kHz on Fugro Brasilis) and sub-bottom profiler systems to map an area of approximately 625,000 square kilometres in the deep waters of Mexico. The data acquired will assist in identifying sites where deep hydrocarbon-rich fluids are escaping to the seafloor and will be used to target hundreds of sites for coring and geochemical analysis. “Fugro has a dedicated centre of excellence in Houston for seep-hunting,” explained Jim Gharib, Fugro’s Global Product Line Manager for Seep Studies.

22 Dec 2015

Schlumberger, Statoil Execute Multiclient WAZ Survey in Campeche Basin

Schlumberger announced today that Statoil Gulf of Mexico LLC has signed an agreement to license a large part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico. The license also includes collaboration with WesternGeco in the seismic processing phase. “We are pleased to have the opportunity to collaborate with Statoil in this breakthrough project, which is the first WAZ multiclient broadband survey in Mexican waters of the Gulf of Mexico,” said Maurice Nessim, president, WesternGeco. A fleet of eight vessels is conducting the survey in the Bay of Campeche for the three-year project. The project follows the Mexican government opening licensing rounds to non-government companies for the first time.

13 Nov 2015

PGS : Building Further Success in Newfoundland, Labrador

PGS has recently completed the fifth consecutive acquisition season offshore Newfoundland and Labrador as part of the ongoing joint venture (JV) with TGS. The successful 2015 season was the biggest yet with PGS operating four vessels, two 3D and two 2D vessels, all of them equipped with GeoStreamer, PGS' broadband technology. This season marked the commencement of the first MultiClient 3D programs to be acquired by the JV, as well as continued building of the regional MultiClient 2D library coverage. * Most 3D seismic ever acquired in a single season offshore Newfoundland and Labrador. The Ramform Valiant acquired 4 339 square kilometers over exploration block EL-1135 in the Flemish Pass basin.

18 May 2015

PGS ASA - First Mover Offshore Mexico

Petroleum Geo-Services ASA (PGS) commenced operations of a MultiClient 2D seismic program offshore Mexico on May 16th. The two 2D vessels Atlantic Explorer and Sanco Spirit will acquire multiple projects recently approved by the Mexican government. The first program to be acquired is the Mexico Well Tie MC2D which will provide clients with an excellent grounding for understanding the hydrocarbon prospectivity in the area. Fast track products will be available in June 2015. "PGS is proud to conduct its first commercial seismic acquisition project in Mexico after approval of the Mexican Energy Reform," says Gregg Parker, Regional President NSA MultiClient in PGS.

11 Nov 2014

Multiclient Seismic Data Offshore Mozambique Available from Schlumberger

Schlumberger announced today the availability of its multiclient seismic survey offshore Mozambique. The Schlumberger multiclient seismic data offered in collaboration with the National Petroleum Institute of Mozambique (INP) includes reprocessed 2D lines and newly acquired seismic data, and provides detailed imaging of the subsurface. “The recent discoveries and regional appraisals in the area indicate significant frontier exploration potential,” said Maurice Nessim, president, PetroTechnical Services, Schlumberger. More than 110,000 km of exclusive 2D seismic data—the most extensive data library of offshore Mozambique—are available for licensing…

14 Jul 2014

Petroleum Geo-Services Q2 Performance Likely to be Weaker

Oslo, Norway, Petroleum Geo-Services ASA (PGS) will present second quarter results on July 24, 2014. The Company expects to report weaker Q2 results than current market expectations. Customers' intentions with regard to seismic purchases, particularly MultiClient, have become less predictable recently. Accordingly, and considering the Q2 results, PGS lowers its full year EBITDA guidance to circa $850 million. It should be noted that because of this reduced predictability, the uncertainty range around the EBITDA guidance is wider than normal. The weak Q2 results are mainly driven by lack of pre-funding for the Triton MultiClient survey in the Gulf of Mexico and to some extent by mobilization delays on some Marine Contract surveys, relating to permitting, weather and technical problems.

18 Apr 2014

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.57 billion in the first quarter of 2013. Income from continuing operations attributable to Schlumberger, excluding charges and credits, was $1.59 billion—a decrease of 11% sequentially but an increase of 23% year-on-year. quarter of 2013. Schlumberger recorded charges of $0.09 per share in the fourth quarter of 2013 and of $0.07 per share in the first quarter of 2013. Schlumberger did not record any charges or credits in the first quarter of 2014. Oilfield Services revenue of $11.24 billion decreased 6% sequentially, but increased 6% year-on-year.

18 Sep 2012

Offshore Newfoundland Geophysical Survey Contract Awarded

Map courtesy of PGS

PGS in cooperation with TGS begins data acquistion on  a new 20,000 km MultiClient 2D survey over the Northeast Newfoundland Shelf. The M/V Sanco Spirit has returned to Newfoundland and Labrador once again utilizing PGS GeoStreamer® broadband technology. Data acquisition will continue into early Q4 2012 and the vessel will complete the survey in 2013. “Northeast Canada and the far North represent some of the most exciting new deepwater exploration areas in the world today and broadband GeoStreamer data provides an ideal foundation for building a better understanding of its potential…

19 Aug 2011

WesternGeco Commences 3D Survey in Barents Sea

WesternGeco announced today that it has begun acquisition of the Bjørnøya Phase I “Ice Bear” 3D multiclient survey in the highly prospective West Loppa area of the Barents Sea. Following previous surveys in the area, the Ice Bear survey will extend the existing WesternGeco West Loppa datasets to the North and West. Building on previous 2D datasets, the Ice Bear survey will consist of approximately 2500 sq km of 3D seismic data, acquired using 10 X 7 km streamers. Advanced acquisition techniques coupled with demultiple processing using the WesternGeco 3D GSMP* General Surface Multiple Prediction technology will provide high-quality 3D data.

15 Sep 2006

Bidding for PNG’s Offshore Oil Leases On

The Papua New Guinea Government received confirmation of global interest in bidding for 15 exploration blocks in the Gulf of Papua when 60 executives from more than 30 international oil and gas companies attended their inaugural road show in Singapore. The companies included the big British Gas Group, ChevronTexaco, CNPC of China, Hunt Oil Company, Korea Gas Corporation, Mitsubishi, Nippon, Pearl Energy Ltd, Petronas, Premier Oil, Repsol and Singapore Petroleum. Sir Moi told the audience that the area was selected because of their newly recognised prospectivity and proximity to onshore discoveries as well as finds in the offshore Papuan sedimentary basin.