October 21, 2021: Oslo, Norway, PGS has entered a strategic collaboration with
Magseis Fairfield to address the growing hybrid towed streamer and OBN seismic
market. The strategic collaboration has a global scope with initial focus on the
North Sea, and a duration of one year with options to extend by two plus two
years.
The hybrid market is defined as the contemporaneous use of towed streamer and
ocean bottom node acquisition technologies.
"We believe the strategic collaboration with Magseis Fairfield, the industry
leading node company, will create a unique opportunity to take advantage of the
untapped potential in the growing hybrid seismic acquisition market. We have
experience from joint streamer and node projects. However, combining resources
with Magseis Fairfield positions us much better to provide our clients with the
best possible solutions," says Rune Olav Pedersen, CEO in PGS.
"We are pleased to enter into a strategic collaboration with PGS. The
combination of their high-end streamer and source technology and our proprietary
innovative node technology will position us well to capture growth opportunities
adding to our current node acquisition business. We see increased customer
interest in hybrid surveys," says Carel Hooijkaas, CEO in Magseis Fairfield.
FOR DETAILS PGS, CONTACT:
Bård Stenberg, VP IR & Corporate Communication
Mobile: +47 99 24 52 35
PGS ASA and its subsidiaries ("PGS" or "the Company") is an integrated marine
geophysics company, which operates world-wide. The Company supports the energy
industry, including oil and gas, offshore renewables, carbon capture and
storage. PGS' headquarter is in Oslo, Norway and the PGS share is listed on the
Oslo stock exchange (OSE: PGS). For more information about PGS visit www.pgs.com
(http://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 2020. 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.
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