PGS ASA

Regulatory Filings • Jun 20, 2019

PGS and TGS Announce Jeanne d'Arc HD3D in Offshore East Canada

PGS and TGS Announce Jeanne d'Arc HD3D in Offshore East Canada

June 19, 2019: Oslo, Norway, PGS and TGS announce the Jeanne d'Arc High Density

3D ("HD3D") MultiClient project in Offshore Newfoundland, East Canada.

The project will cover approximately 5,000 square kilometers and encompasses

multiple exploration licenses, significant discovery licenses and sections of

the open acreage included in the November 2019 bid round. The Ramform Atlas will

perform the acquisition, utilizing the high-resolution GeoStreamer® technology.

Acquisition has commenced and is expected to complete in late Q3 2019.

The Jeanne d'Arc HD3D survey borders Newfoundland's prominent producing fields

such as Hibernia, Terra Nova, White Rose, North Amethyst and Hebron.

Following this ninth consecutive season of data acquisition in offshore East

Canada, the jointly-owned library will have more than 189,000 line kilometers of

2D GeoStreamer data and approximately 56,000 square kilometers of 3D GeoStreamer

data.

This project is supported by industry funding.

FOR DETAILS, CONTACT:

Bård Stenberg, SVP IR & Corporate Communications

Phone:  +47 67 51 43 16

Mobile:  +47 99 24 52 35

***

Petroleum Geo-Services ASA and its subsidiaries ("PGS" or "the Company") is a

focused 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.

***

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 MultiClient 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 2018. 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.

--END--

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.