PGS ASA: Secures 4D Contract Offshore Guyana

Oslo, NORWAY


June 28, 2021: Oslo, Norway, PGS has been awarded a significant 4D acquisition contract by ExxonMobil for work offshore Guyana. A Titan class vessel is scheduled to mobilize for the project in Q4 2021 and acquisition is planned to be completed in Q1 2022.

We acquired the 4D baseline of this area and consider it strategically important for us to be awarded a repeat survey for parts of the initial program. We are very pleased with the recognition of our Ramform acquisition platform and superior multi-sensor GeoStreamer technology, which are well suited for high quality 4D acquisition programs. The contract adds further visibility to our order book for the coming winter season, 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 an integrated marine geophysical company that provides a broad range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation. The Company MultiClient data library is among the largest in the seismic industry, with modern 3D coverage in all significant offshore hydrocarbon provinces of the world. 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 2020. 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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