Norwegian geotechnical company TGS plans a multi-client organic investment of approximately $100 million in the fourth quarter.
“Utilization of our OBN teams in the fourth quarter was strong, with the majority of activity focused on collecting 4D production data in the Gulf of Mexico. Project delays from late 2024 to 2025 maintained our multi-client investments at the lower end of the expected range, which also impacted vessel utilization during the quarter. I am pleased with the strong performance of multi-client investments in the fourth quarter and overall. of the year 2024. During the quarter, we announced four significant streamer contracts, improving visibility and vessel utilization in the first half of 2025,” comments Kristian Johansen, CEO, on the latest figures.
Ocean Bottom Node, OBN, had a crew of 3.5 people, down from 3.8 people in the previous quarter, but up from 1.9 people in the fourth quarter of last year.
35% of the ships were under contract, 31% in multi-client, 6% in steaming, 6% in shipyards and 22% on stand-by.
In the third quarter, 2% of vessels were under construction and 15% on hold. In the fourth quarter of last year, the corresponding figures were 14 and 12 percent, respectively.
