Oslo - PGS has received a conditional award for an acquisition contract over the Smeaheia carbon storage site in the North Sea, operated by Equinor.

Acquisition is scheduled to start in August 2022 and expected to complete in September same year.

'We are very pleased with another carbon storage acquisition contract by Equinor. Earlier this year we acquired data for the Northern Lights JV DA, one of the pioneering carbon transport and storage companies in Europe. The Northern Lights contract was awarded to us by Equinor, on behalf of the Northern Lights JV, and the seismic acquisition program was completed with great success. We really appreciate this repeat business from a very important client,' says President & CEO in PGS, Rune Olav Pedersen.

Contact:

Bard Stenberg

Tel: +47 99 24 52 35

PGS ASA and its subsidiaries ('PGS' or 'the Company') is a fully integrated marine geophysical company that provides a broad range of seismic and reservoir services, including data acquisition, imaging, interpretation, and field evaluation. Our services are provided to the oil and gas industry, as well as to the broader and emerging new energy industries, including carbon storage and offshore wind. 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).

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