PGS adds Petrobras to 2023 list

Brazilian oil and gas giant Petrobras has awarded Norwegian seismic company PGS with a 4D production contract over the Barracuda-Caratinga field in the Campos basin offshore Brazil.

The Ramform Victory will most likely be rigged to acquire the Barracuda-Caratinga 4D survey, supported by PGS Apollo as a source vessel, the Norwegian company said.

Mobilization is scheduled to start in the second quarter of 2023, with the acquisition expected to complete in early 2024.

According to PGS, the cost of mobilizing Ramform Victory is considered as part of the project and no decision is taken with respect to operating the vessel after project completion.

“We are very pleased with the Petrobras 4D contract award over the Barracuda-Caratinga field. PGS has acquired multiple 4D surveys offshore Brazil and gained significant operational experience in the region,” said President and CEO of PGS, Rune Olav Pedersen.

“Our visibility for 2023 is improving with increasing rates. To optimize our vessel resources during the summer season next year we will most likely use the Ramform Victory to acquire the Barracuda-Caratinga 4D survey.” 

At this same time last year, PGS announced it is commencing a 4D acquisition survey for Petrobras in the Campos Basin.

The activities took place over the Roncador and Albacora Leste fields in the second quarter of 2022.

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Earlier this year, Petrobras revealed its intention to invest $16 billion in the Campos Basin revitalization project, planning to install three new FPSOs and interconnect more than 100 wells over the next five years.

The company has also set its sights on investing $5.5 billion in oil and gas extraction activities, hoping to unlock new discoveries in Brazil.

The Brazilian state-owned giant in July completed drilling of a wildcat well located in the pre-salt Campos Basin, after finding an oil accumulation.

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