Marine company PGS was awarded a 3D exploration contract in Asia Pacific according to a Dec. 7 press release.

The Ramform Sovereign is scheduled to mobilize for the survey this December, and the contract鈥檚 total duration is approximately 50 days, the release stated.

鈥淢ost of our activities in Asia Pacific this year have been well pre-funded multiclient projects,鈥� said Rune Olav Pederson, president and CEO at PGS. 鈥淣ow we are experiencing increasing contract tendering activity and see potential for more proprietary work in the region.鈥�

The release added that PGS announce contract awards and multiclient projects as stock exchange releases if the contract鈥檚 value is $10 million or more, multiclient projects with a duration of two months or more and 鈥渟trategically important contracts.鈥�

Marine company PGS was awarded a 3D exploration contract in Asia Pacific according to a Dec. 7 press release.

The Ramform Sovereign is scheduled to mobilize for the survey this December, and the contract’s total duration is approximately 50 days, the release stated.

“Most of our activities in Asia Pacific this year have been well pre-funded multiclient projects,” said Rune Olav Pederson, president and CEO at PGS. “Now we are experiencing increasing contract tendering activity and see potential for more proprietary work in the region.”

The release added that PGS announce contract awards and multiclient projects as stock exchange releases if the contract’s value is $10 million or more, multiclient projects with a duration of two months or more and “strategically important contracts.”