PGS and Magseis Fairfield in hybrid seismic tie-up

Norwegian marine seismic players PGS and Magseis Fairfield have teamed up to jointly carry out hybrid seismic acquisition, where towed streamer and ocean bottom node seismic are acquired simultaneously.

The strategic collaboration will have a global scope with an initial focus on the North Sea, and a duration of one year with options to extend by two plus two years.

“We believe the strategic collaboration with Magseis Fairfield, the industry leading node company, will create a unique opportunity to take advantage of the untapped potential in the growing hybrid seismic acquisition market. We have experience from joint streamer and node projects. However, combining resources with Magseis Fairfield positions us much better to provide our clients with the best possible solutions,” says Rune Olav Pedersen, CEO in PGS.

“The combination of PGS high-end streamer and source technology and our proprietary innovative node technology will position us well to capture growth opportunities adding to our current node acquisition business. We see increased customer interest in hybrid surveys,” added Carel Hooijkaas, CEO in Magseis Fairfield.

A recent report from Rystad showed that the seismic industry is getting back on its feet, with vessel utilisation recovering to pre-Covid levels in the third quarter of 2021. About 68% of the fleet, or just over two-thirds of the vessels, are now surveying or underway. Rystad expects the performance of seismic players as a whole to improve, as global exploration spending is forecast to increase in 2022.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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