PGS ASA: PGS Completes Sale of CSEM Technology to OFG
19
, 2021: Oslo, Norway, PGS has today completed sale of the hardware, software and intellectual property associated with the Company s towed streamer Controlled Source Electro Magnetic ( CSEM ) system to Ocean Floor Geophysics, Inc ( OFG ).
The towed-streamer CSEM technology is a state-of-the-art system, which allows for the acquisition of high-quality marine CSEM data in a fast and efficient manner with minimal environmental impact. The system complements existing CSEM technology to permit a broad operating envelope. We are very pleased to conclude the transaction with OFG, whereby we receive shares in OFG and open up for a closer collaboration. OFG s expertise in Multiphysics (the combination of different geophysical measurements) is unparalleled and particularly important in the emerging markets for our New Energy business. Together we cover the space from large scale towed CSEM and seismic surveys to full range of AUV-ba
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