PGS to develop Mediterranean gas “hot spot” with new 3D exploration contract
(WO) – PGS was awarded a 3D exploration contract in the Mediterranean. The Ramform Titan is scheduled to mobilize for the survey in December, and the exploration contract has a total duration of approximately 160 days.
“We are very pleased with this contract award securing work for the Ramform Titan through the winter season. The Mediterranean is a hotspot serving the European gas market, and we see potential for more work in this prolific region,” says Rune Olav Pedersen, President & CEO in PGS.
PGS announces contract awards and MultiClient projects as stock exchange releases if the contract has a value of $10 million or more, MultiClient projects with a duration of 2 months or more, and strategically important contracts.