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GeoStreamer strengthens profitability in an improving market


Published Apr 30, 2013
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GeoStreamer technology

Petroleum Geo-Services (PGS) reported that its GeoStreamer technology helped it to strengthen profitability in an improving during the first quarter.

"The strong Group EBIT margin of 25% in the quarter was driven by good performance, our strong technology position and improved market conditions. Average 2013 marine contract prices are expected to be 10-15% above 2012 prices.

The GeoStreamer is continuing to gain market strength and customer interest as we further explore new ways of exploiting this ground breaking technology. The recent news flow from Brazilian authorities regarding future licensing rounds, and revival of other key markets, indicate a further strengthening of the global marine seismic market and pricing in 2014."

Tags: Petroleum Geo-Services ASA




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