Offshore survey service provider PGS has started to re-activate vessels as it is experiences an increase in seismic acquisition project activity.
Based on project awards so far, PGS has started preparations to re-activate Ramform Vanguard for the summer season, with an acquisition expected to commence in April.
The company will also activate Sanco Swift to be used as a source vessel for at least three months on awarded projects.
Last year, PGS implemented a series of cost reduction measures worth about $400m through staff reductions, re-organisation, consolidation of offices, re-negotiation of service agreements and later in the year launched a scheme of arrangement to implement the restructuring.
