New Wave Media

June 3, 2022

Ocean Floor Geophysics Buys NCS Subsea and Its P-Cable System

File image: OFG

File image: OFG

Ocean Floor Geophysics, Inc (OFG) has completed its acquisition of NCS SubSea, which provides ultra-high-resolution 3D seismic data to the oil and gas and new energy markets via its P-Cable system.

According to info on NCS SubSea's website, P-Cable is a compact, flexible offshore seismic data acquisition system combined with patented navigation and positioning support technology that provides "extremely detailed ultrahigh-resolution images of the seafloor and subsurface geology."

"With the addition of P-Cable technology, OFG now provides the broadest range of marine geophysical data technology and services available in the offshore market today, offering the widest range of sensor solutions from surface, AUV and ROV platforms, combined with unique multiphysics processing, integration, and interpretation capabilities," OFG said.

OFG was assisted in this transaction by PGS, OFG’s largest shareholder. 

“OFG is delighted to complete the acquisition of NCS and its P-Cable ultra-high-resolution 3D seismic technology. We have seen a significant market interest in P-Cable over the past few months in both traditional oil and gas markets for shallow imaging of reservoirs and geohazards, as well as in new energy markets, particularly for offshore wind surveys. We look forward to offering P-Cable products and services to existing and new customers.” says Matthew Kowalczyk, CEO of OFG. 

“This transaction further strengthens the PGS-OFG partnership and expands our combined offering within conventional and New Energy markets. We are building OFG to be a preferred provider of marine site characterization and asset integrity services.” says Artem Lytkin, Vice President at PGS New Energy and an Executive Chairman of OFG. 

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