Petroleum Geo-Services

PGS has an ambition of zero injury to people, including employees, contractors, anyone involved in operations, and people visiting the Company’s sites. As part of PGS’ focus on safety, crew members log actual and potential safety issues in a card-reporting system. Since the observations are recorded as free text, and …

May 9, 2019: Oslo, Norway, at the annual general meeting held on April 24, 2019 it was approved to change the Company’s name from Petroleum Geo-Services ASA to PGS ASA. The name change is now registered in the Norwegian Companies House and is in full effect. source  

The Board of Directors of Petroleum Geo-Services ASA has appointed Rune Olav Pedersen (47) as the new President & CEO of the Company. He will succeed Jon Erik Reinhardsen on 1 September 2017. “The Board has run a thorough succession process since early spring, and assessed a number of very …

PGS Highlights 2015 Revenues of $961.9 million, compared to $1,453.8 million in 2014 EBITDA of $484.5 million, compared to $702.6 million in 2014 EBITDA margin of 50% in 2015, compared to 48% in 2014, enabled by substantial cost reductions of $318.5 million EBIT, excluding impairments and other charges, of $15.8 …

Petroleum Geo-Services ASA (“PGS” or “the Company”) expects to report a full year 2015 EBITDA of approximately $485 million. For Q4 2015, the Company expects to report consolidated revenues of approximately $230 million and an EBITDA close to $120 million, excluding the charges and provisions described below. The Company achieved …

Highlights Q2 2015 Revenues of $255.8 million, compared to $337.0 million in Q2 2014 EBITDA of $125.1 million, compared to $170.6 million in Q2 2014 EBIT, excluding impairments and other charges, of $15.9 million, compared to $55.0 million in Q2 2014 Cash flow from operations of $83.1 million, compared to …

Highlights Q1 2015 Revenues of $251.1 million, compared to $292.5 million in Q1 2014 EBITDA of $124.8 million, compared to $138.5 million in Q1 2014 EBIT of $10.9 million, compared to $45.2 million in Q1 2014 Strong cash flow from operations of $212.4 million, compared to $182.1 million in Q1 …

Petroleum Geo-Services ASA concluded its election for Directors to the Board among the employees yesterday. The three employee elected Directors are: Anette Valbø – Corporate Controller, Marine Contract Espen Grimstad – Senior Supervisor, Operations Berit Osnes – Senior Vice President, MultiClient. Alternate directors are: Atle Aamodt – Senior Vice President, …

The Board of Directors of Petroleum Geo-Services ASA has on March 18, 2015 approved the 2014 annual financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). The Company reported its IFRS unaudited fourth quarter and preliminary full year 2014 results on February 12, 2015. Compared to the preliminary …

Petroleum Geo-Services ASA today announces that Oslo District Court in its judgment of 13 February 2015 ruled in favor of PGS in the lawsuit filed by ElectroMagnetic GeoServices ASA (‘EMGS’) against PGS for patent infringement relating to PGS’ Towed Streamer EM technology. The court found that EMGS’ patent NO 324 …