Ocean Floor Geophysics Inc. (OFG), a company in which PGS owns approximately 43%, has now completed the acquisition of NCS SubSea. As a result, OFG now controls the P-Cable system, which provides ultra-high resolution 3D seismic data to the oil, gas and new energy markets.
“This transaction further strengthens the PGS-OFG partnership and expands our combined offering within conventional and New Energy markets,” says Artem Lytkin, vice president of PGS New Energy and executive chairman of OFG. “We are building OFG to be a preferred provider of marine site characterization and asset integrity services.”
PGS ASA is a fully integrated marine geophysical company with subsidiaries that provides a broad range of seismic and reservoir services, including data acquisition, imaging, interpretation and field evaluation. Its services are provided to the oil and gas industry, as well as to the broader and emerging new energy industries, including carbon storage and offshore wind.
“OFG is delighted to complete the acquisition of NCS and its P-Cable ultra-high resolution 3D seismic technology,” states Matthew Kowalczyk, CEO of OFG. “We have seen a significant market interest in P-Cable over the past few months in both traditional oil and gas markets for shallow imaging of reservoirs and geohazards, as well as in new energy markets, particularly for offshore wind surveys. We look forward to offering P-Cable products and services to existing and new customers.”
