Crystal II for final delivery in late 2008

PGS is pleased to announce that its Crystal II Multi-client 3D survey covering 170 blocks in the Gulf of Mexico is underway, following the successful and ahead-of-schedule acquisition phase of the Crystal I program.

The design of the Wide Azimuth spread, as driven by the underwriters, matches that of the original PGS Crystal I survey that is yielding impressive imaging results. In addition, following PGS’ recent purchase of AGS, we will incorporate Beam migration into the processing flow. This will positively impact the timing and integrity of the velocity model-building and consequently the final data quality. Final products are due for delivery in late 2008.

Andy Bliss, Vice President for Multi-client, Gulf of Mexico, stated that: “PGS are proud to be at the forefront of this game-changing technology for subsalt exploration in the deep waters of the Gulf of Mexico. The faith of our underwriters, the dedication of PGS’ acquisition crews and processing teams and our commitment to product excellence and delivery performance, have all underpinned PGS’ successful re-entry in to this important exploration region”.

PGS are also pleased to confirm that the first final results of the original Crystal survey will be made available ahead of the Central Gulf of Mexico lease sale in March.

Crystal III is currently being planned.