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, which stands for Petroleum Geo-Services, is a company that helps other companies find oil and gas deep under the ocean. They use special technology to do this. Think of them as explorers who use sound waves to map out what's beneath the seabed.
Their main job is to provide "geophysical services." This means they study the Earth's physical properties. They use something called "seismic" technology. This technology sends sound waves into the Earth. These waves bounce back and create a picture of the layers of rock below. This helps oil companies discover where oil and gas might be hiding.
Contents
What PGS Does
PGS offers a full range of services to find oil and gas. They start by planning how to explore an area. Then, they collect data using their special ships. After that, they use advanced computer programs to create detailed images from the data. Finally, they help analyze these images. This helps oil companies understand the underground structures.
How Seismic Technology Works
Imagine you drop a stone into a pond. It creates ripples. Seismic technology works a bit like that, but with sound waves. PGS ships send sound waves down into the ocean. These waves travel through the water and into the Earth's crust. When they hit different rock layers, some waves bounce back up.
Special microphones on the ship listen for these returning echoes. By measuring how long it takes for the echoes to return, scientists can create a 3D map. This map shows where oil and gas might be trapped in underground rock formations. It's like seeing inside the Earth without digging!
PGS Around the World
PGS was started in Norway in 1991. Today, it is a global company. It has offices and operations in many countries.
Where PGS Operates
PGS has its main headquarters in Oslo, Norway. They also have important offices in London and Houston. The company employs people from about 60 different countries. This shows how global their work is.
PGS Fleet and Facilities
To do their work, PGS uses special ships called seismic vessels. These ships are equipped with the technology needed to collect data. They have about 8 such vessels. Six of these are usually active during the winter season. PGS also has large centers where they process and create images from the data they collect.
The company's shares are traded on the Oslo Stock Exchange. This means you can buy and sell parts of the company there.
