PGS

TGS submits a conditional offer for the multi-client data library of PGS for a cash consideration of USD 600 million The offer values the multi-client data library in excess of the full reported book value and secures PGS liquidity to repay the USD 135 million revolving credit facility due September …

Reference is made to previous announcements by PGS ASA (“PGS” or the “Company”) in respect of the refinancing first published on 21 January 2020 (the “Refinancing”). PGS is pleased to announce that the Refinancing transaction has been completed. As announced on 21 January 2020, selected terms and conditions of the …

Leveraging fleet productivity and technology is an important pillar of PGS business strategy. PGS is using its digital transformation process to accelerate strategy execution. In cooperation with Cognite, PGS has launched two digitalization workstreams aiming at improving fleet performance; refining approaches to optimize fuel consumption and reducing maintenance cost by …

PGS has selected Google as its preferred cloud provider. This collaboration marks a significant step by PGS in the digital transformation of its business. PGS’ mission is to support the energy industry with the right data at the right time. By harnessing Google’s cloud-based technologies and incorporating artificial intelligence 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  

Reference is made to PGS press release dated November 15, 2018. PGS has now signed the vessel sale agreement for the Ramform Sterling to Japan Oil, Gas and Metals National Corporation (“JOGMEC”), an incorporated administrative agency of Ministry of Economy Trade and Industry in Japan. JOGMEC will take delivery of …

Oslo, Norway, PGS sells the fiber optic permanent reservoir monitoring solution, OptoSeis, to Geospace Technologies. Terms of the transaction include an initial cash payment at closing of $1.8 million and contingent cash payments of up to an additional $23.2 million over a five-and-a-half year earn-out period. The contingent cash payments …

The PGS plastic collection concept may be valuable in certain areas and during seasons or events when plastic densities are high. Next step is to seek funding for a full-scale pilot test. In 2017[1], PGS launched a concept for collecting plastics at sea that uses the inherent capabilities of seismic …

Petroleum Geo-Services ASA (“PGS” or “the Company”) announces a new centralized, simplified and streamlined organization, which builds on the two business areas: Sales & Services and Operations & Technology. Over the last years fundamentals in the seismic industry have changed significantly. The market is smaller, weaker and more uncertain than …

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 …