Norwegian seismic player PGS has been awarded a new 3D exploration acquisition contract for work offshore Namibia.
The Oslo-listed firm, which boasts the second-largest seismic fleet after Shearwater, will mobilise the 2013-built Ramform Titan for the survey expected to complete in late May.
for the survey expected to complete in late May.The contract value has not been disclosed, but as per PGS’ Oslo filing practice, the deal is worth $10m or more. It follows the contract in Namibia for the same vessel that PGS disclosed last October.
Namibia’s Orange Basin became a hot spot for offshore exploration last year when Shell and TotalEnergies found big volumes of hydrocarbons, encouraging other major players to join the race for black gold.
“We are very pleased with this contract award, as it follows nicely after the previous project and secures visibility for the vessel into the 2023 summer season,” said Rune Olav Pedersen, president and chief executive of PGS.
