PGS has started acquisition of its latest Barents Sea MultiClient project, building a special portfolio for the Norwegian 24th Round. This combined GeoStreamer and EM survey covers 3000 sq. km in the Harstad Basin. Initial EM images will be available by the end of October, with fast track 3D seismic ready early next year.

The survey is located in the southwestern part of the Barents Sea between the Senja Ridge and the Finnmark Platform, covering all the announced blocks in quadrant 7018.

Sanco Swift is undertaking the 3D GeoStreamer seismic acquisition. The Nordic Explorer, which is responsible for the EM part, arrived in the area last week, following rigging in Bergen. The first EM line was completed Saturday 19 August and almost half of the area has now been covered. This survey is part of a larger, prefunded EM MultiClient program in the Barents Sea.

Fast track 3D seismic data will be available in Q1 2018.

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.