PGS announces a new regional 2D acquisition and imaging program in cooperation with the Egyptian Natural Gas Holding Company (EGAS). Data from the survey will support future license rounds in the Nile delta and the frontier Egypt West Mediterranean Sea.

Detailed technical work has indicated a variety of geological plays and identified a large number of leads. There are analogs to producing onshore areas in the Western Desert and the prolific Nile Delta Cone, and also to the recent giant Zohr gas discovery. The new MC2D-EGY2018 project will further refine our understanding of these play-types.

Scale, Location, Delivery

PGS' Egypt 2018 MultiClient program comprises acquisition and processing of approximately 21 000 km of long offset 2D GeoStreamer data. The results will be integrated with existing 2D seismic data in our data library and an updated interpretation report outlining the prospectivity in this area will be generated.

Final processed products will be available from December 2018. Delivery will be staged to optimize availability and value for license block evaluation.

Imaging products will include Kirchhoff prestack time and depth migrated full and angle stacks, Kirchhoff PSTM and PSDM gathers, reverse time migration stacks, Beam PSDM stacks and nav-seis merged field data.

About PGS

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, Norway.