PGS sees positive signs for 3D survey market

PGS expects an increase in high-end seismic acquisition activity across the industry this year.

Offshore staff

LYSAKER, NorwayPGS expects an increase in high-end seismic acquisition activity across the industry this year.

The main drivers are a likely upsurge in 4D streamer monitoring surveys andmulti-client 3D projects; a higher and more stable oil price and improved cash flow among clients; and a growing constraint on available streamers.

PGS anticipates securing multi-client cash investments of around $275 million, with a pre-funding level close to 100%.

This year the company predicts its capex will be roughly $150 million, of which around $85 million relates to completion of the newbuild vesselRamform Hyperion.

At the end of last year the company’s order book stood at $215 million.

02/16/2017

More in Geosciences