PGS Secures Large MultiClient Campaign in Norwegian Sea

27 Dec 2022 08:00 CET

December 27, 2022, Oslo, Norway: PGS has secured industry pre-funding for a
large MultiClient survey in the Norwegian Sea. The survey will be acquired by a
Ramform Titan-class vessel over two seasons with mobilization for the first
season in Q2 2023. The survey will be completed during summer 2024.

"We acquired the first phase of NWS GeoStreamer X this summer and have now
secured pre-funding for a larger second phase. The survey covers approximately
12,500 square kilometers of new GeoStreamer data in a second azimuth over
existing GeoStreamer MultiClient data in the region, yielding a dual azimuth
product, or what we call GeoStreamer X. The combination of multisensor broadband
fidelity and dual azimuth illumination provides clients with higher quality data
for their renewed exploration interest on the Norwegian continental shelf," says
President & CEO in PGS, Rune Olav Pedersen.


FOR DETAILS, CONTACT:



Bård Stenberg, VP IR & Corporate Communication
Mobile:  +47 99 24 52 35



***
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).

***

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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