PGS Enters Carbon Storage Acquisition Contract

(PGS, 11.May.2023) — PGS has entered into a seismic acquisition contract* for carbon storage offshore Norway by an independent energy company. The project is scheduled to start in September and has a duration of approximately one month.

“In 2022 we established a strong position in the carbon storage geo-services market, and successfully completed four carbon storage acquisition jobs. I am very pleased with this contract in an early phase of the carbon capture and storage market,” says President & CEO in PGS, Rune Olav Pedersen.

PGS announces contract awards and MultiClient projects as stock exchange releases if the contract has a value of $10mn or more, MultiClient projects with a duration of 2 months or more, and strategically important contracts.


*The contract was included in the order book disclosed in PGS Q1 2023 earnings release and presentation.