Offshore survey company Ocean Floor Geophysics, in partnership with the Norwegian seismic player PGS, its largest shareholder, has signed a deal to acquire NCS SubSea, a company that provides ultra-high-resolution 3D seismic data to the oil & gas and new energy markets via its P-Cable system.
"With the addition of P-Cable technology, OFG now provides the broadest range of marine geophysical data technology and services available in the offshore market today, offering the widest range of sensor solutions from surface, AUV, and ROV platforms, combined with unique multiphysics processing, integration and interpretation know-how," OFG said.
According to info on NCS SubSea's website P-Cable is a compact, flexible offshore seismic data acquisition system combined with patented navigation and positioning support technology that provides "extremely detailed ultrahigh-resolution images of the seafloor and subsurface geology."
OFG was assisted in the transaction by PGS, OFG’s largest shareholder. No details were shared on the value of the transaction.
"The PGS New Energy group, which services markets including carbon capture and storage (CCS), renewables (wind farms), and seabed minerals, works closely with OFG as a preferred supplier of ultra-high-resolution seismic, CSEM, magnetic and acoustic surveying products, and services," OFG said.
“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,” says Matthew Kowalczyk, CEO of OFG.
"PGS remains a dedicated and reliable pioneer serving the energy industry with our integrated geophysical data acquisition and processing capabilities. 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 characterization and shallow geohazard applications,” says Berit Osnes, EVP New Energy of PGS.