PGS-backed Ocean Floor Geophysics acquires NCS SubSea

US-based surveyor Ocean Floor Geophysics (OFG), a company in which Norwegian offshore seismic player PGS owns around 43%, has acquired the entire share capital in NCS SubSea, the owner and operator of P-Cable ultra-high resolution seismic acquisition technology.

With the addition of the P-Cable technology, OFG claimed it now provides the broadest range of marine geophysical data technology and services in the offshore market. The multiphysics offering includes the widest range of sensor solutions deployed from surface, autonomous underwater vehicle (AUV) and remotely operated vehicle (ROV) platforms, and is combined with multiphysics processing, integration and interpretation know-how, the company said.

This transaction is also said to enable a further extension of the strategic collaboration between PGS and OFG and a potential consolidation of PGS’ shareholding in OFG up to around 55% on a fully diluted basis. PGS said it would continue to work with OFG as a preferred supplier of surveying products and services in energy transition activities like carbon storage, site investigations for offshore wind farms and mapping of seabed minerals. PGS established a new energy business unit last year, headed by the executive vice president, Berit Osnes.

“PGS remains a dedicated and reliable pioneer serving the energy industry with our integrated geophysical data acquisition and processing capabilities. Our strategic collaboration with OFG and their acquisition of NCS SubSea further expands our offering within the new energy markets. By bringing the ultra-high-resolution P-Cable 3D seismic technology into OFG, we can apply PGS’ in-house data processing capabilities, expanding our offering for site characterization and shallow geohazard applications,” stated Osnes.

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.
Back to top button