History of PGS

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2021 Established New Energy to leverage PGS expertise and assets, to assess market needs and develop business opportunities in the evolving energy transition. Entered a strategic collaboration with Magseis Fairfield to serve the hybrid towed streamer and OBN market. Celebrated 30 years anniversary.
2020 The COVID-19 pandemic had a severe negative impact on the seismic industry and PGS reduced cost and capital expenditures significantly as a response. Rejected a non-binding bid from TGS to acquire PGS MultiClient data library.
2019 Sold the Ramform Sterling to JOGMEC in Japan and entered into a related service agreement of up to 10 years with annual renewals. Changed name from Petroleum Geo-Services ASA to PGS ASA.
2018 Sold OptoSeis to GeoSpace as a part of the strategy to divest non-core assets.
2017 Took delivery of Ramform Hyperion. Launched initiative to centralize, simplify and streamline the organization.
2016 Ramform Tethys was delivered, improving fleet capabilities further with excellent operational performance.
2015 In an uncertain market environment PGS focused on cash flow
and increased its liquidity reserve.
2014 Ramform Atlas, the second Ramform Titan-class vessel was
2013 PGS took delivery of the Ramform Titan, the first vessel in a series of four Ramform Titan-class ships.
2012 PGS exercised options to build another two Ramform Titan-class vessels and launched Separated Wavefield Imaging (“SWIM”).
2011 PGS orders two new Ramform Titan-class vessels from Mitsubishi Heavy Industries Shipbuilding Co Ltd. in Japan, with options for additionally two vessels.
2010 Following sale of its Onshore business, PGS emerged as a focused marine geophysical company. PGS was reorganized into global product lines. PGS Apollo joined the fleet.
2009 PGS took delivery of the Ramform Sterling.
2008 PGS took delivery of the Ramform Sovereign and the vessel sets new industry record with deployment of 17 streamers.
2007 PGS introduced the GeoStreamer, the first ever dual sensor streamer. The Company sells Ramform Victory to the Japanese Ministry of Economy Trade and Industry (“METI”). PGS acquired Arrow Seismic, Multi Transient Electro Magnetics (“MTEM”) and Applied Geophysical Services (“AGS”). The first dividend in PGS history was paid.
2006 PGS demerged its floating production by listing and distributing to shareholders the company Petrojarl ASA. PGS announces plan to build two Ramform S-class vessels.
2005 Pertra was sold to Talisman, and PGS became a dedicated oil services company. In December the same year a full refinancing of the Company was completed.
2003 PGS sold Atlantis to Sinochem. An inability to meet debt obligations made PGS file for Chapter 11 under the US Bankruptcy code in July. PGS emerged from Chapter 11 in November the same year.
2002 PGS bought into in the Varg field in the North Sea from Norsk Hydro and Statoil and established the exploration and production company Pertra.
2001 The Company’s data management business was sold to Landmark Graphics Corporation. Ramform Victory tows the world’s first 16 streamer spread.
2000 PGS sold its subsidiary Spinnaker Exploration.
1999 A fourth FPSO, the Petrojarl Varg, was bought from Saga Petroleum.
1998 The production services business Atlantic Power was acquired. PGS added the Ramform Banff to the fleet of FPSO vessels.
1997 PGS was listed on the New York Stock Exchange. PGS Production is conceived with the acquisition of Golar-Nor and the FPSOs Petrojarl I and Petrojarl Foinaven.
1995 Ramform seismic vessel technology was introduced with delivery of the Ramform Explorer. From 1995 to 1999, PGS designed, built, and deployed six proprietary Ramform survey vessels and grew to become a worldwide leader in the development and industrialization of 3D marine seismic acquisition.
1994 Acquisition of ERC – a reservoir consultancy group.
1993 Initial public offering on NASDAQ in the United States. With the acquisition of Tensor Inc., specialists in 3D processing and depth imaging, PGS’ expanded into the data processing field.
1992 PGS was incorporated as a public limited liability company, Petroleum Geo-Services ASA, and listed on Oslo Stock Exchange.
1991 Geoteam and Precision Seismic merge to form Petroleum Geo-Services (“PGS”). Later the Company merged with Nopec. PGS’ vision was to provide the most efficient acquisition of 3D marine seismic data.