PGS Sees More Multi-Client Activity

Norwegian seismic player Petroleum Geo-Services (PGS) has released an operating update for the third quarter of 2017.

In the Q3 the vessel utilization on the contracted basis was 28 percent compared to 33 percent in the corresponding period in 2016.

On the multi-client seismic basis, the company has seen a slight increase in vessel utilization from 45 percent in Q3 2016 to 53 percent in Q3 2017.

The company excluded the cold stacked vessels from the statistics.

In Q3 2017 PGS operated nine 3D vessels, corresponding to 128 streamers.

The percentage of the stacked/standby vessels was 12 percent in Q3 2017 compared to 10 percent in Q3 2016.

Subsea World News Staff

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