- One two-year framework agreement for 4D monitoring surveys on the Norwegian continental shelf. Equinor can extend this framework agreement by exercising additional two two-year options. The agreements can also be applied for the UK continental shelf.

  - One specific framework agreement for 4D monitoring surveys at the Gullfaks field. The agreement comprises an exclusive right to acquire up to three surveys prior to 2031.

PGS is scheduled to acquire two 4D GeoStreamer monitoring surveys in 2021 over Fram and Tordis/Vigdis fields. The first survey is scheduled to start in June 2021, and the total duration for the two 2021 projects is estimated at around 2.5 months.

“We are very pleased to be awarded these important framework agreements. We operate in a cyclical industry with low visibility, and longer-term contracts improve our order book and financial predictability in a challenging seismic market. An important part of our strategy is to maintain leadership in the production 4D segment. The confidence Equinor shows by awarding us these frame agreements confirms our strong position in the 4D market, the reliability of our Ramform vessels and the superior data quality provided by our GeoStreamer technology,” says Rune Olav Pedersen, President & CEO in PGS.

About PGS

PGS ASA and its subsidiaries (“PGS” or "the Company") is an integrated 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).

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.