Petroleum Geo-Services ASA (PGS) has decided to relocate its regional headquarters from Singapore to Kuala Lumpur as a part of the plan to restructure the company’s business activities in Asia Pacific.
According to PGS, the move will result in consolidation and centralization of resources and lead to improved competitive advantage and reduced costs, all of which are important in the current challenging market.
Kuala Lumpur is the hub of the vibrant and active domestic Malaysian exploration and production market, PGS says. The company further adds that the Imaging center in the city is one of PGS’ busiest, carrying a significant part of the company’s load for imaging worldwide. By locating the regional headquarters in Kuala Lumpur, PGS says it will get closer interaction with the major international oil companies established there as well as the national oil company Petronas, considered an ambitious international player.
The move will take place in July 2015.