1、A Clearer Image|Annual Report 2017 Refocused&ReenergizedPGS has reorganized to build a better foundation to meet our customers needs.Project turnaround will benefit and it will be simpler to do business with us.Weve cut costs without sacrificing operational reliability or data quality,and the best a
2、spects of our company culture are preserved.2PGS:2017ContentsLetter from the CEO 4Key Figures 7Centralized Locations 9Simplified Structure 9Ready to Help Find More Oil&Gas 10Running a Reliable Modern Fleet 12MultiClient&Contract 14Centralized Imaging Centres 16The PGS History 17Executive Team 19Sale
3、s&Services 21Operations&Technology 23The PGS Share 24Corporate Governance 26Board of Directors 34Board of Directors Report 36Responsibility Statement 45Alternative Performance Measures 46Financial Statements 48Financial Statements Parent Company 90Auditors Report 104Key Figurespage 7Letter from the
4、CEOpage 4The New Organizationpage 21Corporate Governancepage 26Financial Statementspage 49$Annual Report 2017 Refocused&Reenergized3Annual ReportLetter from the CEO Dear PGS shareholderIn 2017 we completed our new build program by taking delivery of Ramform Hyperion.In the second half of the year we
5、 initiated and completed a reorganization of PGS to position the Company to generate positive cash flow in a flat market environment.We experienced a slow start to 2017 with weak vessel utilization,few MultiClient acquisition projects and low prices for marine contract work during the winter.However
6、,we were able to increase our order book significantly during the first quarter and entered the summer with well pre-funded MultiClient programs,good visibility and higher prices for secured work.The price increase for contract jobs was mainly driven by more StakeholdersEnvironmentPeopleConductPGS F