Offshore staff
OSLO, Norway – PGS’ board has rejected TGS-NOPEC’s offer to acquire its multi-client seismic data library, submitted last week.
The value of the data library to PGS is significantly larger than the TGS proposal, the company said in a statement, adding that the timing of the proposal is opportunistic given the current market backdrop and macro-economic environment.
After consulting with its financial and legal advisers, the board concluded the offer was not in the best interests of the company or its stakeholders.
08/14/2020
