The 10-year agreement will allow the company to begin its operations with the acquisition of a large 2D regional survey during the first quarter of 2013 over the open deep-water blocks, which will form the basis of a future licensing round.
PGS survey, however, will be the primary technical dataset for that round, the company said.
In the survey, PGS will use the latest GeoStreamer dual sensor technology, which runs the entire length of the Namibian offshore, from the Angolan border in the north to the South African border in the south.
PGS Africa & Middle East MultiClient Business Development VP Mike Johnson said, the company is excited to bring GeoStreamer technology into Namibia.
"GeoStreamer offers clear and proven operational advantages, and dual sensor technology will provide explorationists with the clearest ever 2D and 3D imaging of the subtle stratigraphic traps that are key to unlocking Namibia’s full offshore hydrocarbon potential," he added.
The agreement has full support from the Namibian Ministry of Mines and Energy and it also provides PGS the rights to acquire 3D MultiClient surveys.
PGS is a marine geophysical company, which primarily focuses on providing a broad range of seismic and reservoir services, including acquisition, processing, interpretation and field evaluation.
