PetroData Acquires PGS GeoData Services A/S (February 1998)

Following the acquisition by Hays InformationManagement of the remastering unit of Tape Tech Norge (PDM Vol. 2 N° 11), PetroData AShas taken over the remainder of the unit - essentially the remastering and other servicesprovided by the Stavanger office of the old TTN.

PetroData was foundation in 1994 and has been operating the Norwegian National Data Repository Diskos under contract from the Norwegian Petroleum Directory and 16 Norwegian operators. PetroData's purchase of PGS Geodata Services, means that all activities, personnel, equipment and current contracts are transferred to PetroData and will become an integrated part of the PetroData services. PetroData will "become a leading provider of integrated data management services to the Norwegian petroleum community". PetroData is two thirds owned by PGS Data Management with IBM holding the remaining equity. The position of the PGS group as both buyer and seller means that from the corporate front this deal is largely an organizational change. Kjell Arne Bjerkhaug - PetroData's managing director told PDM that this change was significant in that it offered improved service levels to PetroData's clients and prepared the way for imminent changes in the management of the Diskos project with an increased commercial focus.