18/05-2015 08:01:00: (PGS, PGSO.ST, E-PGSO.BTSE, PGSN.OMSW) Petroleum Geo-Services ASA - First Mover Offshore Mexico
May 18, 2015: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company')
commenced operations of a MultiClient 2D seismic program offshore Mexico on May
16(th). The two 2D vessels Atlantic Explorer and Sanco Spirit will acquire
multiple projects recently approved by the Mexican government. The first program
to be acquired is the Mexico Well Tie MC2D which will provide clients with an
excellent grounding for understanding the hydrocarbon prospectivity in the area.
Fast track products will be available in June 2015.
"PGS is proud to conduct its first commercial seismic acquisition project in
Mexico after approval of the Mexican Energy Reform," says Gregg Parker, Regional
President NSA MultiClient in PGS. "We have worked diligently to position the
Company as a first mover in Mexico and we are now very pleased to say that we
have been successful in our endeavor. PGS views Mexico as a viable investment
market for many years to come for the full suite of all our solutions."
These surveys will be acquired using PGS proprietary GeoStreamer technology and
are supported by industry pre-funding.
FOR DETAILS, CONTACT:
Bård Stenberg, VP IR & Corporate Communications
Mobile: +47 99 24 52 35
Petroleum Geo-Services ("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's
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,
For more information on Petroleum Geo-Services 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 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 2014. 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.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Press Release First Mover Offshore Mexico:
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Source: Petroleum Geo-Services ASA via GlobeNewswire
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