Magseis Fairfield Enters Strategic Collaboration with PGS for the Hybrid Towed Streamer and OBN market

October 21, 2021

(Oslo, 21 October 2021) Magseis Fairfield has entered a strategic collaboration with PGS to address the growing hybrid towed streamer and OBN seismic market. The strategic collaboration has a global scope with initial focus on the North Sea, with a duration of one year with options to extend by two plus two years.

The hybrid market is defined as the contemporaneous use of towed streamer and ocean bottom node acquisition technologies.

“We believe the strategic collaboration with Magseis Fairfield, the industry leading node company, will create a unique opportunity to take advantage of the untapped potential in the growing hybrid seismic acquisition market. We have experience from joint streamer and node projects. However, combining resources with Magseis Fairfield positions us much better to provide our clients with the best possible solutions,” says Rune Olav Pedersen, CEO in PGS.

“We are pleased to enter into a strategic collaboration with PGS. The combination of their high-end streamer and source technology and our proprietary innovative node technology will position us well to capture growth opportunities adding to our current node acquisition business. We see increased customer interest in hybrid surveys,” says Carel Hooijkaas, CEO in Magseis Fairfield.

For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

André Bjørvik, SVP Corporate Communication
Tel: +47 907 42 746
Email: andre.bjorvik@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.