This is PGS
PGS provides reliable images and 3D data about the subsurface. Oil and gas companies use this data to find and produce hydrocarbon reserves.
Oil and gas companies use PGS data for both exploration and production. In the exploration phase, seismic data is used to investigate regional geology and to locate reservoirs and spot traps during the search for new reserves. Later, in the production phase, accurate data with reliable attributes is necessary to plan the interventions required to produce efficiently from existing reservoirs over the life of a field.
Mission and Vision
Our mission is to support the energy industry with the right data at the right time.
Our vision is that using our pioneering spirit, PGS will collaborate with the energy industry and lead the way in the search for new resources
Our Business
PGS is a leading, international, marine geophysical company. Our business is technology-driven and we provide a broad range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation.
The PGS data library is among the largest and most modern in the industry. Around 60% of the 2D data and 44% of all 3D data in our library has been acquired with multisensor GeoStreamer® technology. That proportion is growing.
PGS is the industry's most experienced provider of multisensor broadband data. Worldwide our teams have acquired and processed around 650 000 sq. km of GeoStreamer broadband data.
PGS operates three larger sales and imaging hubs in Europe and North America, with local offices in 13 countries. The PGS headquarters is in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS).
- Explore our data library
- Discover our MultiClient products
- Contact us in your region for more information
Organizational Structure
PGS activities are organized into three business areas.
- Sales & Marketing promotes and sells seismic services including tailored acquisition contracts, MultiClient library data, and imaging services
- New Ventures designs and markets new MultiClient projects and manages strategic projects
- Operations & Technology plans, manages and executes all our acquisition projects, and develops new technology solutions
Worldwide Locations
PGS is headquartered in Oslo, Norway and has offices in 13 countries around the world. We have regional centers in London and Houston.
Key Figures
Segment Revenues by Business Activity
Key Financial Figures
| In USD million | 2018 | 2017 | 2016 | 2015 |
| Profit and loss numbers Segment Reporting | ||||
| Segment Revenues | 834.5 | 838.8 | 764.3 | 961.9 |
| Segment EBITDA | 515.9 | 374.1 | 313.3 | 484.4 |
| Segment EBIT ex. impairment charges and other charges, net | 36.3 | (147.1) | (137.5) | 15.8 |
| Other key numbers As Reported | ||||
| Net cash provided by operating activities | 445.9 | 281.8 | 320.9 | 487.9 |
| Capital expenditures (whether paid or not) | 42.5 | 154.5 | 208.6 | 165.7 |
| Cash investment in MultiClient library | 277.1 | 213.4 | 201.0 | 303.3 |
| Total assets | 2384.8 | 2482.8 | 2817.0 | 2914.1 |
| MultiClient library | 654.6 | 512.3 | 647.7 | 695.0 |
| Cash and cash equivalents | 74.5 | 47.3 | 61.7 | 81.6 |
| Shareholders equity | 721.8 | 879.5 | 1359.4 | 1 463.7 |
| Net interest-bearing debt | 1112.8 | 1139.4 | 1029.7 | 994.2 |
MultiClient Fundamentals
The PGS data library contains advanced images of the subsurface that oil and gas companies use to explore for hydrocarbons. Better data enables more effective exploration and increases the chances of success. The PGS MultiClient 3D Library comprises almost 850 000 sq. km, approximately 44% is GeoStreamer 3D data, while our MultiClient 2D Library comprises approximately 670 000 km, over 60% is GeoStreamer 2D data. *Peer group comprises WesternGeco, TGS, CGG, Spectrum, and PGS.
Vessel Fleet
Our active fleet is the youngest in the industry and consists of eight 3D seismic vessels (six in the low season). This lines up our newest ultra-high capacity Ramforms both Titan-class and S-class, along with the modern, efficient conventional-hulled ships on charter. Additional cold-stacked capacity comprises five older Ramform vessels, plus one conventional ship. These resources can be reactivated when required.
HSEQ Figures
Good HSEQ management is at the heart of how we run our business. This is not just about doing the right things, it is about evolving a team that thinks the right way and then does the right things. That requires clear leadership, a strong culture that includes everyone involved, and commitment from the boardroom to the back deck.
People
Our focus is to empower our lean, project-driven organization to fulfill our strategic ambitions without compromising our core values. We strive to ensure decent work, and continuously improve working conditions for our employees and contractors.
*Performance reviews for 2018 will be finalized and reported during the second quarter of 2019.