Annual Report 2011 - PGS

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Operations In addition to delivering better seismic data quality, GeoStreamer significantly widens the weather window in which data acquisition can be performed. This is possible because GeoStreamer can be towed deeper than conventional streamers, since receiver ghosts, which degrade data, have been eliminated. Improved operational efficiency is a clear PGS advantage and a significant contributor to increased margins, with customers benefitting from shorter cycle times. The next advance was PGS’ introduction of GeoSource (GS) in 2011, which removes the source ghost. Deployment of the complementary acquisition technologies — GeoSource plus GeoStreamer — is referred to as GeoStreamer GS. Rollout of GeoStreamer GS to all GeoStreamerequipped vessels is planned to be completed by year-end 2012 With GeoStreamer GS, the Company can provide its customers with a ghost-free acquisition solution — the only one available in the industry. (See the Data Processing & Technology section of this report for further technology details.) Rollout of GeoStreamer GS to all GeoStreamer-equipped vessels is planned to be completed by year-end 2012. 30 PGS Annual Report 2011
Operations Ramform’s Sustainable Productivity Benefits: Setting New World Records The Ramform design is a distinctive PGS hallmark. The concept of the delta-shaped hull with a characteristic extremely wide aft beam — twice the width found on a conventional vessel — was introduced with the Ramform Explorer in 1995. The benefits of the Ramform vessel were immediately obvious and PGS continued to order more of the purpose-built seismic vessels. Ramform Challenger, the next in the series, entered the market in 1996, followed by Ramform Viking and Ramform Valiant two years later and Ramform Vanguard and Ramform Victory (now Shigen) in 1999. Early on, PGS differentiated itself as the most efficient industry participant. PGS has continued to focus on high-capacity vessels. The Ramform Sovereign and Ramform Sterling, which entered service in 2008 and 2009 respectively, were even larger and featured more capabilities than their Ramform predecessors and have executed notable projects. Ramform Sovereign was assigned to a major contract for Petrobras in the second half of 2008 that was scheduled to last approximately one year. The vessel performed well and several project extensions ensued. At the time of writing this report the Ramform Sovereign was still under contract with Petrobras doing HD4D mapping of the world’s largest oil fields. In most of its work, Ramform Sovereign has been operating with 14 streamers, each 8,100 meters long, with 50-meter streamer separation. This dense spread is a deployment of more than 112 kilometers of streamers. By year-end 2011, the spread had been in the water for 1,000 days and another 300–400 days of data gathering are anticipated before survey work is completed. The size and complexity of the streamer spread is a world record and Ramform Sovereign has been performing that record tow on a daily basis for several years. Her sister ship, the Ramform Sterling, is acquiring seismic data using a similarly impressive spread. In the second half of 2011, she began a project towing 12 streamers, each 8,100 meters long, with 120-meter separation. In terms of survey footprint, this is the world’s largest spread. Ramform Sterling has been logging a daily maximum production that exceeds 140 square kilometers. This coverage represents approximately half the size of a small seismic survey. In its first two weeks of operations deploying its record spread, Ramform Sterling acquired more than 1,750 square kilometers of high-quality seismic data. Ramform Vanguard, one of the V-class Ramforms, towed 17 streamers each 3,600 meters long, with 50-meter separation, for a project that began in the summer of 2011. The assignment was a 4D survey in the North Sea where Ramform Sovereign had made the first baseline survey in 2008. This performance proves that PGS’ V-class vessels are capable of towing more than 16 streamers, which had been the previous record for that type of vessels. The Ramform Sovereign is here doing a 17 streamer survey in the North Sea in 2008, which was repeated by the Ramform Vanguard in the summer of 2011. PGS Annual Report 2011 31
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Annual Report 2011 - PGS

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