PGS operates a productive core fleet of Ramform vessels, comprising four Ramform Titan-class vessels, one Ramform S-class vessel and one Ramform V-class vessel. These vessels have delta-shaped hulls and uniquely wide back decks, enabling highly efficient seismic acquisition. The breadth of the Ramform back decks, 40 meters on S-class and V-class, and 70 meters on Titan-class, provides unparalleled streamer handling capability. The Ramform vessels deliver industry-leading performance in deployment, acquisition and streamer recovery.
The Company also operates two conventional-hulled vessels on long-term charters to complement the Ramform fleet and be able to serve all parts of the seismic 3D market.
Operational performance is a measure of how well PGS utilizes the time available to acquire seismic data. Downtime (technical and maritime) as a percentage of total PGS fleet time has decreased significantly over the last decades, matched by improving performance over the same period.
To deliver the best possible product in the most effective manner, each acquisition project requires cooperation between the commercial business areas, and a streamlined organization within Operations, which includes the four main departments: dedicated project planning; delivery and support teams; robust and professional vessel operations; and cutting edge marine and imaging technology development.
PGS leads the industry in HSEQ performance and aims to sustain and improve this, with a focus on operational and safety culture. PGS prioritizes safe, ergonomic office and workspaces, good health and recreation facilities for all employees.
Environmental Social Governance
There is an increasing focus on the “E” in the Environmental Social Governance (“ESG”) aspect. Over the last decade PGS has worked quietly to improve emissions to air and can report a reduction of CO2 emission by 30% per seismic line kilometer acquired from 2011 to 2019. The Company has identified further efficiency improvements, utilization benefits and reduction of drag from the ongoing digital transformation process and launch of the next generation GeoStreamer, which have the potential to reduce CO2 emission by another 20% over the next decade.
PGS aims not to leave footprints in the ocean after a seismic acquisition survey is completed. Indeed, on many occasions PGS leaves areas cleaner than they were before acquisition started. Over the last five years, PGS has collected tons of marine debris, mostly plastics and returned it to a proper disposal chain onshore. This also include rescuing marine life from the debris and returning it safely to the ocean. Going one-step further PGS has developed a concept for collecting plastic offshore by using the inherent capabilities of seismic vessels. Subject to external funding, the plan is to get the system in operation. Additionally, PGS is supporting the UN Sustainable Development Goal 14-A by providing the bathymetry data we collect in the performance of our operations to the SeaBed 2030 Project, with the goal of mapping the entire ocean sea floor by 2030. For more details of PGS ESG work, reference is made to the Company’s corporate responsibility report.
PGS invests in research and development of new technologies, which gives the Company sustainable competitive advantages and solid return on the investments. Building on the multisensor GeoStreamer advantage, PGS is commencing production of the next generation GeoStreamer in 2020. Features of the next generation GeoStreamer is lower production and operating costs, as well as longer life. Data quality of the next generation GeoStreamer is equally good as the earlier version.