1、Annual ReportA Clearer Image|2021|PGS Annual Report 20212PGS ASA and its subsidiaries(“PGS”or“the Company”)*is a fully integrated marine geophysical company that provides a broad range of seismic and reservoir services,including data acquisition,imaging,interpretation,and field evaluation.Our servic
2、es are provided to the oil and gas industry,as well as to the broader and emerging new energy industries,including carbon storage and offshore wind.The Company operates on a worldwide basis with headquarters in Oslo,Norway.3 CEO Letter5 Business Highlights 20216 Key Figures8 Executive Team10 Digital
3、 Transformation14 PGS New Energy17 Integrated Service Offering21 PGS Product Portfolio25 Utilizing the Capabilities of the PGS Fleet 27 The PGS Share29 History of PGS31 Corporate Governance39 Board of Directors42 Board of Directors Report54 Responsibility Statement55 Financial StatementsCONTENTS*Whe
4、n the terms“PGS”and“the Company”are used in this report,these will as a main rule include both PGS ASA and its subsidiaries.However,in certain sections and paragraphs hereof,these references will only include PGS ASA as context indicates.The seismic market declined in 2021 compared to 2020,impacted
5、by the ongoing energy transition leading to changing behaviors among energy companies and negative effects from a persistent pandemic.PGS has competences and assets that may be of significant value in the energy transition,in which we aim to play a role.We therefore established a New Energy business
6、 unit with clear mandates to pursue technologies and opportunities in this segment.Our fully integrated service offering enabled us to improve our competitive position.We took advantage of a recovering contract market and enhanced our MultiClient performance relative to our peers.Overall,we are prog