Norway-based survey outfit Petroleum Geo Services has reported what it called its best earnings quarter ever, although its net income to shareholders was halved year-on-year to $124.4 million despite soaring revenues.

“We delivered the strongest quarterly operating profit ever,” chief exec Jon Erik Reinhardsen said in a statement.

Company earnings before tax and the paying of debt was $276.1 million ever, up nine percent year on year on revenues that soared 15 percent to $534.3 million.

All PGS’s key numbers were up, as were its record earnings before tax and its order book.

Offshore, the seismic business showed buoyancy with a $20 million hike over the same span in 2007 to $202.4 million on intensified oil industry interest in exploration.

Tags: Petroleum Geo-Services