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. 

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


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, and has 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).


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.

locations.png
Centralized hubs and local offices. Find out how to get in touch with your regional office under Contact Us

Key Figures

  USD Millions
2015 961.9
2016 764.3
2017 838.8
2018 834.5
  Percentage
Contract - 18% 18
MultiClient - 78% 78
Imaging - 3% 3
Other - 1% 1
  USD Millions
2015 793.1
2016 662.3
2017 697.5
2018 601.6

Segment Revenues by Business Activity

  USD Millions
2015 574.7
2016 469.1
2017 534.4
2018 654.3
  USD Millions
2015 274.0
2016 212.6
2017 241.3
2018 149.5
  USD Millions
2015 93.7
2016 70.0
2017 51.0
2018 25.8

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


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.

  Percentage
Contract - 22% 22
MultiClient - 44% 44
Standby - 22% 22
Steaming - 10% 10
Yard - 2% 2
  Percentage
Marine Contract - 66.6% 66.6
MultiClient - 33.3% 33.3

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.

  TRCF
2015 0.63
2016 1.04
2017 0.60
2018 1.14
  TRCF
2015 0.13
2016 0.15
2017 0.15
2018 0.19
  TRCF
2015 0.00
2016 0.15
2017 0.45
2018 0.19

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.

  Number
Offices - 925 925
Vessels - 472 472
  Average Number of Employees
2015 2153
2016 1821
2017 1715
2018 1258
  Office Vessel
2016 96 99
2017 97 100
2018 0 0

*Performance reviews for 2018 will be finalized and reported during the second quarter of 2019.

  Percentage
Male - 96% 96
Female - 4% 4
Nationality Percentage
British - 29% 29
Norwegian - 14% 14
Polish - 12% 12
American - 10% 10
Canadian - 5% 5
French - 3% 3
Brazilian - 3% 3
Other - 25% 25
  Percentage
Under 55 yrs - 85% 85
55 and over - 15% 15
  Percentage
Male - 68% 68
Female - 32% 32
Nationality Percentage
Norwegian - 25% 25
British - 20% 20
American - 13% 13
Egyptian - 5% 5
French - 4% 4
Brazilian - 4% 4
German - 3% 3
Other - 25% 25
  Percentage
Under 55 yrs - 82% 82
55 and over - 18% 18