Our 30 Year History

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2022 The New Energy business established a solid position in the carbon storage geoservices market.

2021 PGS establishes New Energy to leverage expertise and assets, and develop business opportunities in the evolving energy transition | Strategic collaboration with Magseis Fairfield to deliver hybrid towed-streamer and OBN surveys. 

2020 The COVID-19 pandemic had a severely negative impact on the seismic industry | PGS reduces cost and capital expenditures significantly | A non-binding bid rejected from TGS to acquire PGS MultiClient data library | Strong vessel and imaging project execution | Digital transformation milestones achieved in fleet management and imaging.

2019 GeoStreamer X redefines multi-azimuth | The company changes name from Petroleum Geo-Services ASA to PGS ASA | Digital transformation is initiated.

2018 OptoSeis permanent reservoir monitoring technology is sold to GeoSpace.

2017 PGS takes delivery of the Ramform Hyperion | Rune Olav Pedersen appointed new President & CEO | Reorganization to centralize, simplify and streamline the organization, reduced costs by over $100 million.

2016 The Ramform Tethys is delivered, further improving fleet capabilities and operational performance. Refinancing reduces debt and extends maturities.

2015 In an uncertain market environment, PGS focuses on cash flow and increasing its liquidity reserve.

2014 Ramform Atlas, the second Ramform Titan-class vessel, is delivered.

2013 Delivery of Ramform Titan, the first vessel in a series of four Ramform Titan-class ships | First simultaneous acquisition of Towed EM and 2D seismic.

2012 PGS exercises options to build a further two Ramform Titan-class vessels | PGS completes several towed-EM surveys | OptoSeis permanent reservoir monitoring is successfully installed on Jubarte | PGS SWIM separated wavefield imaging technology is launched.

2011 PGS orders two new Ramform Titan-class vessels from Mitsubishi Heavy Industries Shipbuilding Co Ltd. in Japan, with options for an additional two vessels |  Launch of GeoStreamer GS | Towed EM solution announced | Upgrade of Ramform Viking and Ramform Challenger | Extension of agreement with Japanese government agency METI.

2010 PGS refocuses on marine geophysics, following the sale of PGS Onshore to Geokinetics | GeoStreamer rollout accelerates |  PGS Apollo joins the fleet | Ramform Explorer is upgraded | Petrobras awards OptoSeis PRM contract for Jubarte | Fleet expansion and renewal program begins | PGS and Shell announce fiberoptic for land seismic.

2009 PGS takes delivery of the Ramform Sterling | Launch of PGS hyperBeam® | Sale of GeoAtlantic | Arrow Seismic newbuilds canceled | First 3D GeoStreamer survey completed in the Gulf of Mexico | First 3D GeoStreamer survey in the Arctic. 

2008 PGS takes delivery of the Ramform Sovereign-| new industry record with the deployment of 17 streamers | Reinhardsen appointed CEO | PGS achieves commercial success with 2D GeoStreamer | Ramform Sovereign sets high-density record 14 x 8000 m x 50 m (112 km deployed streamer).

2007 Launch of GeoStreamer® | PGS sells Ramform Victory to the Japanese government | PGS signs cooperation agreement with Japanese Ministry of Economy and Energy | Acquisition of Arrow Seismic | Acquisition of MTEM | Acquisition of Applied Geophysical Services (AGS) | Acquisition of Roxicon Geogrids | PGS pays dividend for the first time.

2006 Demerger of FPSO activities as Petrojarl ASA | PGS re-focuses on geophysical services | First wide-azimuth survey in Gulf of Mexico | PGS orders two new Ramforms.

2005 Oil company Pertra sold for NOK 1.5 billion | Improved margins and sales growth | Most debt repaid or refinanced | PGS performs largest-ever multi-azimuth project offshore Egypt with Ramform Vanguard.

2004 PGS rejects a takeover bid from CGG | NYSE re-listing.

2003 PGS sells Atlantis to Sinochem | Three FPSO contracts extended | PGS files for Chapter 11 in July and emerges in record time in November | Development of passive acoustic monitoring to detect and avoid cetaceans | First-ever all-optical PRM seafloor cable tested | Reserves doubled on PGS operated Varg field 

2002 Merger discussions terminated with Veritas DGC | New Board of Directors appointed | Rennemo appointed CEO and new CFO appointed | Financial restructuring commences | PGS becomes operator of the Varg field | First commercial multi-azimuth survey completed at Varg.

2001 PGS sells Data Management for $165.7 million | Reorganization of production and geophysical operations management | Merger negotiations with Veritas DGC | Ramform Victory tows the world's first 16-streamer spread.

2000 PGS sells Spinnaker for $150.5M | Petrobank is sold for $170 million | Senior management is reorganized | PGS acquires Petrojarl Varg from Saga Petroleum | Ramform Victory and Ramform Vanguard enter the fleet | 11 marine and land crews shut down.

1998 Atlantic Power joins PGS with over 1350 employees | Ramform Valiant and Ramform Viking join the fleet | Ramform Explorer tows widest ever spread (1350 m).

1997 PGS is listed on the New York Stock Exchange | PGS acquires Golar-Nor and the FPSOs Petrojarl I and Petrojarl Foinaven from Awilco | Conoco awards contract for Banff FPSO | First deepwater FPSO operations at Foinaven | Ramform Explorer tows first ever 12-streamer seismic spread | Petrobras partners with PGS to remaster its seismic data

1996 Ramform Challenger enters the fleet | PGS is registered on NASDAQ | PGS conducts the world's first deepwater OBS survey | Ramform Explorer tows first-ever 10-streamer seismic spread | PGS Offshore Technology is established to explore Ramform use in production, drilling, well intervention, and cable laying | Vertical seismic cables deployed in GOM  | PGS launches GeoBank seismic data management.

1995 Ramform Explorer enters the PGS fleet | PGS develops the oil industry’s first shared data bank | ocean bottom seismic (OBS) operations in Gulf of Mexico and Australia | North Sea vertical cable project begins | Orient Explorer joins the fleet

1994 Atlantic Explorer and American Explorer join the fleet | ERC reservoir consultants join PGS | PGS operates the largest-ever 3D survey (3-vessel acquisition) | PGS acquires Mapware and renames it PGS Data Management | PGS acquires geophysical research organization Seres | PGS OBS Inc established | the PGS-designed Seafire lifejacket becomes North Sea standard.

1993 Nordic Explorer and Ocean Explorer join the fleet | PGS expands into high-volume 3D processing as Tensor Geophysical joins the group | PGS offers full onboard processing | Board approves construction of the first Ramform | Nordic Explorer tows first-ever five streamer seismic survey | Initial public offering on NASDAQ 

1992 PGS acquires its first 3D seismic survey, in the Gulf of Mexico | PGS is incorporated as a public limited liability company, Petroleum Geo-Services ASA, and listed on Oslo Stock Exchange.

1991 Petroleum Geo-Services is formed in Norway from A/S Geoteam | Subsidiary "Precision Seismic Inc." is established in Houston | PGS partners with TGS for marketing of 3D data | First North Sea 3D survey (GeoExplorer)  | PGS merges with Nopec | PGS introduces 3D MultiClient | First delivery of full volume pre-stack data. PGS’ vision was to disrupt the marine seismic market by making 3D seismic acquisition so efficient that companies would no longer explore on 2D data.

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