PGS completed the acquisition of three new GeoStreamer 3D surveys offshore Newfoundland and Labrador in September. First fast-track results, including early-out QI, will be delivered in Q4 2020. Final imaging and interpretation products will be delivered 2021.

The Blomidon, South Bank, and Torngat Extension GeoStreamer 3D surveys together cover approximately 8 500 sq. km offshore Labrador and Newfoundland.

Marine seismic acquisition was carried out by the Ramform Atlas and Ramform Titan between June and September 2020, under full compliance with strict Covid-19 guidelines.

Eastern Newfoundland
Blomidon 3D (West Tablelands) | 3 526 sq. km | Fast-track data will available in November 2020, with AVO-compliant PSTM imaging and QI products. Final imaging will be available in early 2021 and full integrity QI in mid-August. Targets Tertiary and Cretaceous leads on open acreage that will be included in the Eastern Newfoundland Call for Bids, which closes in November 2022.

South-Eastern Newfoundland
South Bank 3D | 2 635 sq. km | AVO-compliant fast-track PSTM imaging will be available in November 2020, with fast-track QI mid-December. Final imaging deliverables will be available in early 2021 and full integrity QI in mid-May. This is the first 3D project in the area, which includes a huge Tertiary fan system. Open acreage will be included in the south-eastern Newfoundland Call for Bids, closing in November 2021.

South Labrador
Torngat Extension 3D | 2050 sq. km | AVO-compliant, fast-track PSTM Imaging will be available in November 2020, for thorough pre-bid evaluation, with fast-track QI products in January 2021. Final imaging will be ready in early 2021, and full integrity QI in mid-July. This survey builds on the existing Torngat 3D survey, over oil-prone open acreage that is part of the South Labrador Call for Bids, closing in November 2021.

About PGS

PGS 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).