PGS ASA

Regulatory Filings • Aug 18, 2023

PGS and inApril Enter Strategic Collaboration

PGS and inApril Enter Strategic Collaboration

August 18, 2023, Oslo, Norway: PGS has entered a one-year strategic

collaboration with inApril for the hybrid towed streamer and ocean bottom node

market.

"The strategic collaboration with inApril expands our service offering and

capabilities in the contract and MultiClient acquisition segments, and further

enhances PGS' position in a recovering seismic market", says Rune Olav Pedersen,

President & CEO of PGS.

"inApril welcomes the opportunity to work with a major marine geophysical

contractor such as PGS and believe we can mutually benefit from the strategic

collaboration to serve the global market for OBN seismic in an increasing number

of contexts including exploration, reservoir monitoring and carbon capture and

storage," says Anne Camerer, CEO of inApril.

PGS announces contract awards and MultiClient projects as stock exchange

releases if the contract has a value of $10 million or more, MultiClient

projects with a duration of 2 months or more and strategically important

contracts.

FOR DETAILS, CONTACT:

Bård Stenberg, VP IR & Corporate Communication

Mobile: +47 992 45 235

About PGS:

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).

About inApril:

inApril is an independent supplier of OBS technology as well as the independent

provider of Venator, the complete and fully automated ocean bottom node (OBN)

based seabed seismic solution. inApril offers a step change in the safe and

efficient operation of seabed seismic surveys by providing cost-effective

technology options needed for exploring and developing the world's 'harder to

find' hydrocarbon reserves.

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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 2022. 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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