PGS ASA: Secures Large MultiClient Campaign in Norwegian Sea

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.

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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.

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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.