Petroleum Geo-Services
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| Type | Allmennaksjeselskap |
|---|---|
| Traded as | OSE: PGS |
| Industry | Petroleum |
| Founded | 1991 |
| Headquarters | Lysaker, Norway |
| Area served | Global |
| Key people | Francis Gugen (Chairman), Jon Erik Reinhardsen (President and CEO) |
| Products | Geophysical services |
| Revenue | US $1.135 billion (2010)[1] |
| Operating income | US $57.8 million (2010)[1] |
| Profit |  (US $7.6 million) (2010)[1] |
| Total assets | US $3.002 billion (end 2010)[1] |
| Total equity | US $1.722 billion (end 2010)[1] |
| Employees | 2,090 (average, 2010)[1] |
| Website | www.pgs.com |
Petroleum Geo-Services (PGS) is a leading, worldwide geophysical company providing an extensive range of seismic services and products for the petroleum industry including seismic data acquisition, processing, reservoir monitoring and analysis, interpretation and electromagnetic studies. The company also possesses the world’s most extensive 3D MultiClient data library. The company is headquartered in Lysaker, Norway; there are also major offices in Houston, Texas, US; Weybridge, UK and Perth, Australia. PGS is listed on the Oslo stock exchange (OSE: PGS).
Formed in 1991, the company currently operates 16 marine streamer vessels, including 7 of the unique Ramform class and has 23 seismic data processing centers. The company is now organized into four separate business units.
Marine Contract: Since its start-up, PGS has pioneered the development of multi-streamer marine seismic acquisition for producing increasingly efficient, high-quality 3D seismic data for the industry. The company has also introduced HD3D® (high-density 3D seismic) surveys and developed in-house expertise in geology and geophysics . The introduction of GeoStreamer® has provided a step change in marine technology giving the company a unique position in the provision of dual sensor acquisition.
MultiClient: PGS has a high quality MultiClient library and has acquired over 400,000 sq. km worldwide. In addition the highly innovative MegaSurvey concept has integrated 3rd party 3D seismic to create regional 3D contiguous coverage in key basins. Together, these represent the world’s largest MultiClient 3D database that offer oil companies a comprehensive subsurface image over substantial parts of all the major offshore hydrocarbon basins. Additionally the developing MultiClient 2D portfolio (200,000 km) uncovers frontier and developing hydrocarbon areas and encompasses a growing proportion of GeoStreamer data that demonstrates excellent imaging improvements
Operations: To manage the world's most advanced fleet of vessels on a global scale requires an organization dedicated to safety, performance and technology implementation. The efficiency of the fleet is guaranteed by the continued innovation in both technology and methods and PGS proudly boasts many of the industry records. The company is still unique in having towed over 16 streamers in production and in implementing a dual vessel wide azimuth acquisition technique in the Gulf of Mexico it boast the world's largest ever towed object with a surface area coverage of over 8.75 sq kms.
Data Processing and Technology: The data processing capabilities in PGS have grown substantially from processing just its own data to being a major player in a high-technology industry. Backed by a large research and technology group and utilizing the latest techniques and equipment, the data processing capabilities offer a truly global operation processing seismic data from all environments. A comprehensive portfolio for time and depth pre-stack migration provides high quality Kirchhoff, beam and wave equation based algorithms including Reverse Time Migration (RTM). Our advanced 3D Beam velocity modeling and prestack depth migration have significantly reduced the time and costs associated with traditional exploration methods.
With a work ethic based on reliability and efficiency and high technology for maximizing the risk reduction for its partners, PGS has developed a broad range of high-level expertise. The services that PGS provides add value to client investments and cement relationships.
The chairman of the Board of Directors is Francis Gugen; board members are Harald Norvik, Holly Van Deursen, Daniel J. Piette, Annette Malm Justad, Carol Bell and Ingar Skaug.
[edit] References
- ^ a b c d e f "Annual Report 2010". Petroleum Geo-Services. http://www.pgs.com/pageFolders/40374/PGS%202010%20Annual%20Report.pdf. Retrieved 17 April 2011.
[edit] External links
Coordinates: 59°54′44.80″N 10°38′23.71″E / 59.912444°N 10.6399194°E
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