PGS ASA

Regulatory Filings • Jan 24, 2014

Petroleum Geo-Services ASA : PGS names its second Ramform Titan-class vessel

Petroleum Geo-Services ASA : PGS names its second Ramform Titan-class vessel

24 January  2014

The second vessel in the Ramform Titan class, the Ramform Atlas was celebrated

in a naming ceremony in Nagasaki, Japan today. To Petroleum Geophysical Services

ASA ("PGS"), safety, efficiency and productivity are the most important features

of the new, 24-streamer vessel. The ceremony took place at the MHI yard in

Nagasaki. The vessel will typically tow a network of several hundred thousand

recording sensors over an area greater than 12 km(2), equivalent to 3.5 times

Central Park.

The Ramform Titan-class is the most powerful and efficient marine seismic

acquisition vessel ever and the widest ship in the world at the waterline.

Safety and productivity have been the main focus points for her design. Ramform

Atlas is the second of four such vessels to be built in Japan. Her sister ship,

the Ramform Titan, has been operating very successfully since its delivery in

April 2013.

The design dovetails advanced maritime technology to the imaging capabilities of

the GeoStreamer® seismic acquisition technology. Her 70 meter broad stern is

fully exploited with 24 streamer reels: 16 reels aligned abreast and 8 reels

further forward. Increased work space and advanced equipment mean safer and even

more robust operations.

For PGS and its clients, more rapid deployment and retrieval of equipment, as

well as greater operational capacity will translate into faster completion of

surveys and increased uptime in marginal weather. The period between major yard

stays is also extended by 50%.

The Ramform Titan-class sets the new standard for seismic operations for the

next 20 years.

Jon Erik Reinhardsen, President and CEO of PGS states in a comment:

"The Ramform Atlas takes seismic acquisition to a new level. We have combined

the most sophisticated technology in the business, with the most powerful and

most efficient vessel in the industry. The second ship in the Ramform Titan

class further strengthens our fleet and will give us a clear competitive edge

for the next decade."

Ramform Atlas is equipped with 24 reels with capacity for 12 km streamers, which

give her tremendous flexibility and redundancy for high capacity operations. She

carries over 6000 tons of fuel and equipment. She will typically tow a network

of several hundred thousand recording sensors over an area greater than 12

km(2), equivalent to nearly 1500 soccer pitches, or 3.5 times Central Park.

Ramform Atlas provides a safe and comfortable living and working environment for

up to 80 crew members, with 60 single cabins, and 10 twin cabins for visitors,

all with separate bathrooms.

Magne Reiersgård, EVP Operations, states:

"We are very excited at the prospect of welcoming the second Ramform Titan class

into operations. We look forward to leveraging the high productivity, efficiency

and safety that this new vessel is expected to bring. We expect Ramform Atlas to

set more industry records for operational efficiency. This is a fantastic day

for PGS and a great addition to the fleet."

NOTE: Pictures and more facts on the Ramform Atlas are available on our website

at www.pgs.com/titan.

FOR DETAILS, CONTACT:

Tore Langballe

Senior Vice President Group Communications

Direct: +47 67 51 43 75

Cell: +47 907 77 841

info@pgs.com

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