PGS Enters Offshore Wind Market

Aerial view of a vessel towing a P-Cable spread, Credit: PGS

PGS has been awarded its firs ultra-high resolution windfarm site characterization project, sealing its entry into a strategically important new energy market.

PGS New Energy offers solutions to the ongoing energy transition by building on the subsurface and operational expertise of PGS’ employees and using the Company’s assets. PGS aims to develop New Energy into a significant business unit and during 2022 the Company established a strong position in the carbon storage geoservices market.

Now PGS is taking the next step and enters the offshore wind site characterization market by being awarded the Company’s first seismic acquisition contract in this domain.

The survey will cover two European windfarm sites, both of which are in a development phase. PGS will mobilize a 3D vessel for the project in early April 2023 and expects to complete acquisition towards the end of June.

The project will be acquired with the market-leading ultra-high-resolution 3D (UHR3D) P-Cable system. P-Cable provides significantly more detailed subsurface data for shallower targets compared to traditional seismic acquisition systems.

“We are delighted with this contract award, which marks our entry into the offshore wind site characterization market. Our P-Cable system acquires ultra-high-resolution 3D shallow subsurface data significantly more efficiently than conventional solutions. We believe our geophysical approach to understand the shallow subsurface layers has a proven market fit and is ready to be scaled to increase our market share in the offshore wind segment. Carbon storage and offshore wind farms are important components of the transition to a sustainable energy mix,” says Berit Osnes, Executive Vice President New Energy in PGS.

 

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