A Path to the Reduction of Marine Seismic CO2 Emissions

PGS is committed to advancing several of the United Nations Sustainable Development Goals (SDGs), including SDG 13: Take urgent action to combat climate change and its impacts. Management are maintaining the target to reduce relative CO2 emissions (t CO2 per CMP km) by 50% compared to 2011 within 2030, and leverage digitalization to identify emission reduction opportunities and meet future greenhouse gas (GHG) monitoring and reporting obligations. As described below, DataOps optimization of vessel and survey management has been applied to the four Titan-class Ramform seismic vessels since 2020 and allows tracking of fuel consumption and CO2 emissions per CMP km. Drag reduction initiatives and novel survey designs to reduce CO2 emissions per CMP km and improve survey efficiency are also being considered.