PGS, together with JV consortium partners TGS and SLB, have secured pre-funding to expand MultiClient 3D coverage in the prospective Sarawak Basin offshore Malaysia. The survey will cover approximately 6 800 square kilometers, and the Ramform Sovereign is scheduled to commence acquisition in June 2023 and complete in August.

The survey is the second phase of a multi-year contract awarded initially by PETRONAS in August 2020 to acquire and process up to 105,000 km² of MultiClient 3D data over a 5-year period in the Basin. First phase of the Sarawak program was acquired in 2021 and covered 8,400 square kilometers.

"The Sarawak basin comprises a proven petroleum system with many producing fields already present in the Central Luconia province. By acquiring MultiClient data with our Ramform vessels and GeoStreamer technology, PGS and partners will provide high-quality regional scale seismic data that will improve understanding of the petroleum systems and allow for prospect level AVO analysis and leads mapping beyond the established offshore Sarawak producing assets,” says President & CEO in PGS, Rune Olav Pedersen.

“As the custodian of Malaysia’s petroleum resources, Malaysia Petroleum Management (MPM), PETRONAS is actively enhancing seismic data sets in the country that will introduce new plays to be explored to our clients, especially in imaging the pre-MMU play in the deep-water area of Sarawak Basin,” he added.

PGS announces contract awards and MultiClient projects as stock exchange releases if the contract has a value of $10 million or more, MultiClient projects with a duration of 2 months or more and strategically important contracts.

About PGS

PGS ASA and its subsidiaries (“PGS” or “the Company”) is a fully integrated marine geophysical company that provides a broad range of seismic and reservoir services, including data acquisition, imaging, interpretation, and field evaluation. Our 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. The Company operates on a worldwide basis with headquarters in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS).

About TGS

TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.