Company Overview: PGS - Petroleum Geo-Services
- subsurface imaging is one of the crucial levers in reducing exploration and production risk and cost
- "conventional wisdom" business models should always be questioned
- individuals can make a real difference if they are truly given an empowered working environment
PGS owns and operates six Ramform vessels – the world's most advanced seismic fleet. PGS has combined blistering acquisition rates with sophisticated onboard data processing to reduce cycle time "from first shot to data delivery" by as much as 75%.
New Business Thinking
PGS established "multi-client" data library activity as a mainstream strategic business, selling "off-the-shelf" seismic data of key prospective areas to many oil and gas companies, and using our geophysical and geological expertise to enhance the product's technical integrity and marketability. PGS clients can now select top-quality 3D seismic data from a portfolio of over 250,000 square kilometers worldwide.
Broadening in Scope
Building on its seismic origins, during the 1990s the company developed leading-edge competence in reservoir description, characterization and monitoring technologies, providing the capability for considerable insight into the performance potential of oil and gas reservoirs. Subsequent expansion into floating production services allowed PGS to begin to exploit the company's expertise in marine and reservoir technologies.
Innovative Technologists – But Commercial Innovators too
During its short history, PGS has introduced a long list of new technologies to the industry including sub-salt imaging techniques, Ramform technology, S-wave recording and full-offset onboard processing, to name just a few. Where technology has been a constant theme, commercial creativity has also contributed significantly to the growth of the business.
Stock Exchang: NYSE
Stock Ticker: PGO