PGS to cold-stack two seismic vessels due to ‘unprecedented challenges’

Norwegian seismic services player PGS has decided to cold-stack two of its seismic vessels amid what it called ‘unprecedented challenges’ for the offshore services industry due to the oil price crash and the coronavirus pandemic. 

Amid the coronavirus pandemic and the disruption in the oil market, which together represent a double threat for the offshore services industry, PGS has implemented preventive measures and contingency plans, the company said on Friday.

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