OFG, PGS boost seismic services with new acquisition

Ocean Floor Geophysics (OFG), in partnership with PGS, has signed an agreement to acquire NCS SubSea, a marine seismic firm that provides ultra-high-resolution 3D seismic data to the oil and gas and new energy markets via P-Cable system.

The transaction will see the addition of the P-Cable technology to OFG’s range of marine geophysical data technology and services in the offshore market.

According to OFG, the multiphysics offering includes the widest range of sensor solutions deployed from the surface, autonomous underwater vehicle (AUV), and remotely operated vehicle (ROV) platforms, and is combined with multiphysics processing, integration, and interpretation know-how.

PGS, which owns approximately 43% of OFG, has assisted the company in this transaction that strengthens the strategic alignment collaboration between them.

PGS will continue to work closely with OFG as a preferred supplier of ultra-high-resolution seismic, controlled source electromagnetic (CSEM), magnetic and acoustic surveying products and services in energy transition activities like carbon storage, site investigations for offshore windfarms and mapping of seabed minerals for use in electrification.

Commenting on the transaction, Berit Osnes, EVP New Energy of PGS, said:“…Our strategic collaboration with OFG and their acquisition of NCS SubSea further expands our offering within the New Energy markets. By bringing the ultra-high-resolution P-Cable 3D seismic technology into OFG, we can apply PGS’ inhouse data processing capabilities, expanding our offering for site characterisation and shallow geohazard applications.”

Matthew Kowalczyk, CEO of OFG, added: “OFG is delighted to add P-Cable to our already extensive range of geophysical products and services. Interest in ultra-high-density 3D seismic is growing apace, driven by rapid growth in the market for offshore wind. We look forward to bringing OFG’s considerable expertise in operation and engineering to the P-Cable system, to further improve robustness and reliability, and extend the operating envelope.”

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