Petroleum Geo-Services facts for kids
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| Allmennaksjeselskap | |
| Traded as | OSE: PGS |
| Industry | Petroleum |
| Founded | 1991 |
| Headquarters | Lilleakerveien, Norway |
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Area served
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Global |
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Key people
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Walter Qvam (Chairman), Rune Olav Pedersen (President and CEO) |
| Products | Geophysical services |
| Revenue |  USD 590.0 million USD (2021) |
 USD (179.4) Million USD (2021) |
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| Total assets | USD 1,792.8 Million USD (2021) |
| Total equity | USD 245.1 Million USD (2021) |
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Number of employees
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1800 (2016) |
PGS stands for Petroleum Geo-Services. It is a company that uses special technology to help other companies find oil and gas deep under the ocean. They offer services that help explore the Earth's layers to discover where these valuable resources might be hidden.
Contents
What PGS Does
PGS is like a detective agency for oil and gas. They use a science called geophysics to understand what's beneath the Earth's surface. Their main job is to provide "seismic services." This means they send sound waves into the ocean floor and listen to the echoes that bounce back. These echoes create a picture of the rock layers underground, which helps oil companies decide where to drill.
How PGS Finds Oil and Gas
PGS helps oil companies from the very beginning of their search.
- Planning and Data Collection: They help plan where to look and then collect information using special ships. These ships tow long cables with sensors that pick up the sound waves.
- Advanced Imaging: After collecting the data, PGS uses powerful computers to create detailed 3D images of the underground rock formations. It's like getting an X-ray of the Earth!
- Analysis and Interpretation: Finally, experts at PGS study these images to figure out the best places to find oil and gas. They help understand the "reservoir," which is where oil and gas are stored in underground rocks.
Where PGS Operates
PGS was started in Norway in 1991. Today, it is a global company with offices and operations all over the world.
PGS Around the World
- PGS has its main offices in important cities like Oslo (Norway), London (UK), and Houston (USA).
- They also have many smaller offices in different countries.
- People from about 60 different countries work for PGS, making it a very diverse company.
PGS's Fleet and Centers
As of a few years ago, PGS had a fleet of special ships called seismic vessels. These ships are equipped with the technology needed to collect data from the ocean.
- They had 8 offshore seismic vessels, with 6 of them actively working during the winter season.
- PGS also has a large center where they process and create images from all the data they collect. This is where the "X-rays" of the Earth are put together.
PGS's History and Business
PGS started in Norway and has grown into a major player in the energy industry.
Company Headquarters
The company's main office, or headquarters, is in Oslo, Norway. For a long time, it was located in a place called Lysaker until 2013, when it moved to a nearby area called Lilleaker.
Trading on the Stock Exchange
PGS is a public company, which means its shares can be bought and sold on the Oslo Stock Exchange. This is a place where people can invest in the company.
