PGS ASA: Secures Large MultiClient Campaign in Norwegian Sea

PGS ASA: Secures Large MultiClient Campaign in Norwegian Sea

05 May 2022 08:00 CEST

May 5, 2022, Oslo, Norway: PGS has secured solid industry pre-funding for a
large MultiClient survey on the Northwest shelf of the Norwegian Sea. The
Ramform Atlas is currently mobilizing for the survey, with scheduled acquisition
start around May 10.

"This is the first large-scale MultiClient survey we are acquiring offshore
Norway since 2020, as we experience increasing demand for high-fidelity
MultiClient data from renewed exploration interest among our clients. The
Ramform Atlas will acquire approximately 6,000 square kilometers of new
GeoStreamer data in a second azimuth to existing GeoStreamer MultiClient data in
the region yielding a Dual Azimuth product," says President & CEO in PGS, Rune
Olav Pedersen.

FOR DETAILS, CONTACT:

Bård Stenberg, VP IR & Corporate Communication

Mobile: +47 99 24 52 35

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PGS ASA and its subsidiaries ("PGS" or "the Company") is a fully integrated
marine geophysical company that provides a broad range of seismic and reservoir
services, including data acquisition, imaging, interpretation, and field
evaluation. Our services are provided to the oil and gas industry, as well as to
the broader and emerging new energy industries, including carbon storage and
offshore wind. The Company operates on a worldwide basis with headquarters in
Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS).
For more information on PGS visit www.pgs.com (http://www.pgs.com).

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The information included herein contains certain forward-looking statements that
address activities, events or developments that the Company expects, projects,
believes or anticipates will or may occur in the future. These statements are
based on various assumptions made by the Company, which are beyond its control
and are subject to certain additional risks and uncertainties. The Company is
subject to a large number of risk factors including but not limited to the
demand for seismic services, the demand for data from our multi-client data
library, the attractiveness of our technology, unpredictable changes in
governmental regulations affecting our markets and extreme weather conditions.
For a further description of other relevant risk factors we refer to our Annual
Report for 2021. As a result of these and other risk factors, actual events and
our actual results may differ materially from those indicated in or implied by
such forward-looking statements. The reservation is also made that inaccuracies
or mistakes may occur in the information given above about current status of the
Company or its business. Any reliance on the information above is at the risk of
the reader, and PGS disclaims any and all liability in this respect.

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Source

PGS ASA

Provider

Oslo Børs Newspoint