PGS head to take over as CEO of Geoquip Marine from 2025

Rune Olav Pedersen, the current CEO of Norway-headquartered seismic company PGS, has been appointed as CEO of Geoquip Marine, a provider of geotechnical services to the offshore energy sector, effective from January 1, 2025.

Pedersen, who will be based at Geoquip’s headquarters in Switzerland, takes over from outgoing CEO Richard Turner, who has accepted a role in the UK and will continue supporting the company as a senior advisor in the lead-up to Pedersen’s arrival.

“On behalf of the Board and the entire Geoquip team, I would like to welcome Rune to Geoquip. We also thank Richard for his successful leadership of the business over the last two years and wish him the best for his new endeavours,” said Arvid Trolle, Board Director at Geoquip Marine and Co-Founder of Njord Partners.

“With the business in a strong financial position and exciting growth opportunities ahead, we are well positioned, now under Rune’s leadership, to expand our already strong share of this market and continue to serve our valued clients globally.”

Pedersen spent the last 14 years at PGS and as CEO led the merger with compatriot offshore energy services company TGS. He was previously a partner in Arntzen de Besche’s Oil and Energy practice and currently serves as a non-executive director on the boards of the Norwegian oil producer OKEA and Brazilian oil and gas producer Seacrest Petroleo.

Geoquip noted it had achieved significant growth in recent years and is currently generating record annual revenues of $125 million, expected to more than double over the next five years. The Swiss company is investing in new assets for further growth with a particular focus on the offshore wind market, as well as new geotechnical equipment, vessels, onshore laboratories and talent.

The company is also expanding its sector exposure to new opportunities in oil and gas, subsea cabling, carbon capture storage (CCS), and scientific research.

“I am thrilled to be joining Geoquip at such an exciting time. The successful turnaround of the business under Njord Partners has positioned the Company as a leader in the rapidly growing offshore wind market and laid strong foundations for growth. I look forward to working closely with the rest of the team to drive Geoquip’s success in the coming years,” said Pedersen.