TGS and Petroleum Geo-Services jointly acquire Dolphin library

TGS and Petroleum Geo-Services jointly acquire Dolphin library

Norwegian seismic firms TGS and Petroleum Geo-Services (PGS) have announced that they have agreed to jointly acquiring the majority of the multi-client library of Dolphin UK.

PGS and TGS will make this purchase on a 50/50 basis, and are expecting to enter into a definitive agreement for the acquisition in the near future.

“The Dolphin MultiClient library is a good strategic fit for PGS, especially the surveys covering the North West shelf of West Africa and the Barents Sea. MultiClient library consolidation is positive for the seismic industry and adds good value to the acquiring companies when surveys are purchased at a significant discount to book values,” said Jon Erik Reinhardsen, president & ceo of PGS.

“With this acquisition we are continuing to execute on our active consolidation strategy. This transaction will be the second strategic library acquisition TGS has concluded in this down cycle, following the purchase of most of the Polarcus library last year,” stated Kristian Johansen, ceo of TGS.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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