PGS ASA

PGS ASA: Awarded 4D Contract in GoM

January 31, 2022: Oslo, Norway, PGS is awarded a 4D contract in the Gulf of

Mexico. A Ramform Titan-class vessel is scheduled to commence acquisition late

February and complete late March.

"We are very pleased with this 4D contract award in the US Gulf of Mexico, which

historically has been a MultiClient market. With our Ramform acquisition

platform and superior multi-sensor GeoStreamer technology we will provide the

client with high-quality 4D seismic data," says President & CEO in PGS, Rune

Olav Pedersen.

FOR DETAILS PGS, CONTACT:

Bård Stenberg, VP IR & Corporate Communication

Mobile: +47 99 24 52 35

PGS ASA and its subsidiaries ("PGS" or "the Company") is an integrated marine

geophysics company, which operates world-wide. The Company supports the energy

industry, including oil and gas, offshore renewables and carbon storage. PGS'

headquarters is in Oslo, Norway and the PGS share is listed on the Oslo stock

exchange (OSE: PGS). For more information about 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 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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