PGS

PGS Presentation at Pareto's Oil and Offshore Conference

2010-09-02T09:03:53+02:00

View the presentation held by CEO Jon Erik Reinhardsen.

From Nucleus to Nucleus+

2010-08-24T15:18:44+02:00

Core Nucleus functionality has been ported to a new framework, introducing greater flexibility for the users.

Financial Calendar 2011

2010-08-20T11:31:21+02:00

Petroleum Geo-Services ASA Financial Calendar 2011

PGS Receives Payment for Cancelled Vessel

2010-08-16T09:06:31+02:00

PGS has received 37M Euro from Factorias Vulcano shipyard related to the arbitration court's ruling.

Update on New Builds in Spain

2010-07-29T14:45:00+02:00

The arbitration court has ruled in favor of PGS. The yard is to pay the full amount claimed plus interest and all legal costs.

Mandatory Notification of Trade

2010-07-29T11:45:01+02:00

Jon Erik Reinhardsen, President & CEO in Petroleum Geo-Services ASA, has bought 9,000 shares in Petroleum Geo-Services ASA

Second Quarter Presentation

2010-07-29T08:05:01+02:00

Download the PGS second quarter presentation

Second Quarter and First Half 2010 Results

2010-07-29T08:00:01+02:00

EBITDA Guidance Maintained. Fleet Upgrades Strengthen Competitive Platform

Revealing the Offshore Nigeria Transform Margin

2010-08-24T15:32:31+02:00

A high resolution MultiClient GeoStreamer 3D survey in Nigeria, covering Blocks OPL 312, 313 and 314 was completed in early July.

Webcast and Conference Call Contact Details for PGS' Second Quarter 2010 Results

2010-07-07T12:08:00+02:00

Petroleum Geo-Services ASA will release its second quarter 2010 results on Thursday, July 29, 2010

Vessel Allocation Q2 2010

2010-07-05T08:07:07+02:00

PGS routinely releases information about vessel utilization around the end of each quarter

Multi-Azimuth High-Resolution Tomography

2010-06-29T10:07:55+02:00

This month's TechLink examines a Nile Delta case study on how to enable more accurate velocity model building in depth.

PGS Well Set for Current Indonesian Bidding Round 2010

2010-06-21T12:28:40+02:00

PGS has data covering some of the most prospective basins offered in this round, with acreage opportunities still available.

PGS hyperBeam™ Wins Industry Award for Engineering Innovation’

2010-06-17T11:41:49+02:00

Proven to be a critical solution for imaging the earth, generating more prospects, and reducing drilling risk.

GeoStreamer® New North Sea Vision

2010-06-16T12:40:22+02:00

PGS will upgrade the imaging of key producing North Sea areas with a new wave of MultiClient 3D, using its unique GeoStreamer®

Shell and PGS Develop Game-Changing Fiber-Optic Seismic System

2010-06-15T16:02:10+02:00

Lower-cost, lighter-weight ultra-high channel count to improve search for oil and gas

Petrobras and PGS Sign Agreement to Perform Fiber-Optic Permanent Seismic Reservoir Monitoring in Brazil's Deepwater Jubarte Field

2010-06-14T10:02:11+02:00

PGS will install a permanent seismic monitoring system in the Jubarte field, North Campos Basin, Brazil for Petrobras.

PGS East Breaks Crystal III Survey Now Complete

2010-06-09T15:26:54+02:00

Data quality looks excellent on the Crystal III survey at East Breaks in the Western Gulf of Mexico.

Rapid Scenario-Testing of Velocity Models

2010-05-31T16:22:10+02:00

This month's TechLink explores the impact of fast interactive visualization of velocity models in an early exploration phase.

Amendments Approved to USD 950 Million Credit Facilities

2010-05-25T12:49:53+02:00

Amendments to senior secured credit facilities will enhance operational, commercial and financial flexibility.

Implementation of stock option plan 2010

2010-05-11T07:56:50+02:00

The approved 2010 stock option plan has now been implemented.

First Quarter 2010 Presentation

2010-04-30T07:01:51+02:00

View the Q1 presentation.

First Quarter 2010 Results

2010-04-30T07:01:51+02:00

PGS reported a group EBITDA margin of 38 percent in Q1 2010 with GeoStreamer® playing a key role.

PGS 2010 Annual General Meeting Completed

2010-04-29T13:41:50+02:00

PGS held its Annual General Meeting on Thursday the 29th.

Annual Statement of Information

2010-04-16T09:00:42+02:00

Issuers of listed transferable securities are required to provide Oslo Stock Exchange with an annual statement of information.

Webcast and Conference Call Contact Details for PGS' First Quarter 2010 Results

2010-04-09T10:54:56+02:00

This webcast will take place on Friday, April 30th at approximately 8:00 am CET.

Annual Report 2009

2010-04-08T16:49:55+02:00

View online English and Norwegian versions of Petroleum Geo-Services' annual report for 2009.

PGS Names its New 3D Seismic Vessel the PGS Apollo

2010-04-08T15:29:55+02:00

In a ceremony in Vigo Spain on Thursday, PGS named its new 3D seismic vessel, the 10-streamer PGS Apollo.

Vessel Allocation Q1 2010

2010-04-08T07:09:55+02:00

PGS routinely releases information about vessel utilization around the end of each quarter.

PGS Prepares Organization for Future Growth

2010-04-07T07:39:55+02:00

PGS has emerged as a focused Marine Geophysical company, following the sale of its Onshore business.

Calling Notice for Annual General Meeting

2010-03-30T11:04:55+02:00

Calling notice and proxy forms for Petroleum Geo-Services ASA's Annual General Meeting.

Share Purchase by Primary Insiders

2010-03-29T07:34:55+02:00

PGS had a 2009 Bonus Incentive Plan, under which certain employees received a regular cash bonus and a cash bonus earmarked for share purchase.

PGS Board Approves IFRS Financial Statements

2010-03-25T12:09:56+01:00

The Company expects to submit the annual report to the Company's shareholders electronically in April.

Full-Waveform Inversion at PGS

2010-03-11T10:06:25+01:00

This TechLink reviews the goals and range of applicability for PGS’ implementation of full-waveform inversion (FWI).

PGS Offers Wide Spectrum of New Multi-Client Products for UK 26th Round

2010-03-02T11:47:57+01:00

The UK's latest licensing round offers blocks in all areas of the UK seas for new exploration. A number of new PGS MultiClient products cover areas relevant for the Round.

Fourth Quarter and Preliminary Full Year 2009 Results

2010-02-22T06:59:51+01:00

A challenging year was turned into positive differentiation with strengthened financial position and strong cash flow.

Fourth Quarter and Preliminary Full Year Presentation

2010-02-22T06:59:51+01:00

Download presentation.

PGS Closes Sale of Onshore Seismic Business to Geokinetics

2010-02-15T07:04:59+01:00

PGS announced today that it had closed the sale of PGS' Onshore seismic data acquisition business and related MultiClient library to Geokinetics.

PGS Announces Efficient Towed Streamer EM Capability

2010-02-09T09:00:29+01:00

This towed solution could cut the time to acquire EM surveys by up to a factor of five.

Webcast and Conference Call Contact Details for PGS' Fourth Quarter 2009 Results

2010-01-29T08:29:52+01:00

The Q4 release will be on February 22, at approximately 8 am CET.

Arctic Efficiency - GeoStreamer Cracks the Weather Window Again

2010-01-25T15:48:49+01:00

Two Arctic surveys last autumn clearly demonstrated the expanded operational envelope offered by GeoStreamer technology.

The Future and the Role of Clean Oil

2010-04-27T12:36:22+02:00

Mr. Erik R. Peterson of the Center for Strategic and International Studies (CSIS) in Washington DC, is in charge of the Seven Revolutions program for fact-based future scenarios until 2025-30. He says neither financial crises nor the election of Obama can change that fact that global warming and the world’s growing energy needs are our greatest challenges in the medium term.

Off The Bench

2010-04-27T12:35:40+02:00

New technology always works in the laboratory. It generally works on the test bench too. But the acid test comes when you put it into commercial operation. The GeoStreamer has been no exception.

PGS Contributes to Haiti Disaster Fund

2010-01-20T08:13:44+01:00

In response to the desperate situation in Haiti following recent earthquakes, PGS has donated $50000 to the International Red Cross & Red Crescent disaster fund.

Update on New Builds in Spain

2010-01-11T07:59:59+01:00

The arbitration court has now announced a ruling in favor of PGS.

PGS Presentation at SEB Enskilda Nordic Seminar

2010-01-07T08:49:51+01:00

PGS presented at the seminar in Copenhagen today.

Vessel Allocation Q4 2009

2010-01-06T13:08:23+01:00

Release of routine information about vessel utilization, summary for the fourth quarter 2009.

Invitation to PGS' Capital Markets Day December 16th

2009-12-08T10:39:52+01:00

The event will be webcasted live and available for replay shortly after.

Further Information on Onshore Transaction

2009-12-03T13:30:10+01:00

Links to previously released webcast and other resources related to the sale of the PGS Onshore business unit to Geokinetics.

Press Conference - PGS Selling its Onshore Seismic Business to Geokinetics

2009-12-03T13:34:51+01:00

A press conference and conference call will take place today at 3:30 pm Central European Time (CET). This event will be webcasted live and available for replay shortly after.

PGS To Sell Onshore Seismic Business To Geokinetics

2009-12-03T13:24:56+01:00

Geokinetics will PGS Onshore business unit in a cash and stock transaction valued at approximately USD 210 million.

Financial Calendar 2010

2009-11-26T14:19:51+01:00

Events for next year are published in our IR section.

PGS Announces 100% Solid Streamers

2009-11-20T11:10:50+01:00

As Ramform Challenger sailed from the yard in November 2009 equipped with 12 new GeoStreamers, the transition to solid technology is complete.

Petroleum Geo-Services ASA Consent Solicitation

2009-11-11T10:59:51+01:00

Noteholders of the PGS Convertible Bonds due 2012 have agreed to the proposed amendments to the terms and conditions of the Notes.

Re Convertible Bond PGS01

2009-11-09T15:09:51+01:00

A meeting of noteholders will take place at 10am on 11 November 2009.

Mid North Sea Paleozoic Unveiled

2009-11-05T12:09:56+01:00

New GeoStreamer 2D close to the Breagh gas field reveals exploration potential in the UK Mid North Sea.

Third Quarter 2009 Results

2009-10-27T06:59:51+01:00

In Q3 2009 PGS delivered strong cash flow and reduced net interest bearing debt by $149.1 million, to $813.0 million.

Q3 2009 Presentation

2009-10-27T06:59:50+01:00

Robust Performance - Strong Cash Flow - Improved Visibility

PGS Widens the Exploration View - East Breaks, Crystal III

2009-10-26T10:18:23+01:00

PGS has started deployment of its latest Wide Azimuth technology on Crystal III. The next generation of Wide Azimuth data has arrived in the Western Gulf of Mexico.

PGS Steps up GeoStreamer Rollout

2009-10-26T06:54:52+01:00

PGS plans to accelerate the roll out of its flagship GeoStreamer technology earlier than originally planned. The successful results of the new streamer have resulted in a decision to convert half of the 3D fleet to GeoStreamer by the end of 2010.

Audiocast and Conference Call Update

2009-10-26T10:19:51+01:00

Due to end of daylight saving time in Europe the conference call is rescheduled to 2:00pm CET (9:00am ET).

New PGS GeoStreamer Data for Côte d’Ivoire

2009-10-24T02:26:48+02:00

PGS has new high quality 2D data over deep water offshore Côte d’Ivoire. The data is acquired in cooperation with Petroci.

Convertible Bond - Notice of Meeting

2009-10-20T07:09:52+02:00

PGS will seek consent from the bondholders to increase flexibility and to harmonize terms with other instruments.

EGM Completed

2009-10-14T13:19:51+02:00

PGS held its extraordinary general meeting today Wednesday October 14, 2009.

Reflecting on Change

2010-04-27T12:36:42+02:00

Here is a collection of articles from our corporate magazine REFLECTIONS. The magazine is distributed worldwide. Issue 1 was published in 2009.

Q3 Audiocast and Conference Call Details

2009-10-05T13:19:57+02:00

PGS will release its third quarter 2009 result on Tuesday, October 27, at approximately 8:00 am (CET).

Vessel Allocation Q3 2009

2009-10-05T09:14:57+02:00

Quarterly update on PGS vessel utilization, statistics for the third quarter 2009

New MultiClient 2D Unveils Andaman Basin

2009-09-25T12:57:53+02:00

PGS has acquired 8,925 km of MultiClient 2D data in the Andaman Sea, offshore India and Indonesia.

Nomination Committee Report to the Extraordinary General Meeting

2009-09-16T10:14:51+02:00

Nomination committee report can be downloaded.

Calling Notice for Extraordinary General Meeting

2009-09-16T08:04:51+02:00

Shareholders can download the calling notice, or register for the meeting electronically.

PGS' presentation at the Barclays CEO Energy/Power Conference

2009-09-09T07:49:51+02:00

Download the presentation and link to the live webcast (from 11:45 ET today).

Update on New Builds in Spain

2009-09-04T08:09:52+02:00

Arrow has today received a formal notice of "commencement of arbitration" from the yard. According to the contract, the parties will meet for arbitration in Norway.

New MC3D GeoStreamer® Survey in the North Viking Graben

2009-08-26T16:19:36+02:00

PGS announces the NVG09 - a new 3D MultiClient survey using GeoStreamer technology, covering 640 sqkm in the North Viking Graben.

Update on New Builds in Spain

2009-08-25T12:19:51+02:00

PGS has today informed Factorias Vulcano that its subsidiary Arrow Seismic Invest III Ltd has exercised its right to terminate the shipbuilding contract for New Build number 533.

Update on New Builds in Spain

2009-08-03T07:49:51+02:00

Reference is made to previous announcements regarding the vessels under construction at the Factorias Vulcano shipyard in Spain.

GeoStreamer Gives Mediterranean More Momentum

2009-07-28T07:52:39+02:00

Over 18,000 km of prime Eastern Mediterranean acreage imaged in GeoStreamer now available in PGS` MultiClient data library.

Q2 2009 Presentation

2009-07-23T07:04:50+02:00

Increasing visibility, an increase in its Marine order book in June and market endorsement of GeoStreamer® technology.

Second Quarter and First Half 2009 Results

2009-07-23T06:59:51+02:00

Petroleum Geo-Services today announced resilient Q2 earnings.

TechLink: SAMDA

2009-07-17T09:17:19+02:00

Easy access to good quality historical data makes exploration easier. TechLink examines the SAMDA regional database for Southern Australia.

Vessel Allocation Q2 2009

2009-07-03T07:39:51+02:00

PGS routinely releases information about vessel utilization around the end of each quarter.

PGS Second Quarter and First Half 2009 Webcast and Conference Call Contact Details

2009-07-02T09:54:51+02:00

PGS will release its Q2 and H1 2009 result on Thursday, July 23 at approximately 8 am (CET). A presentation, webcast and conference call is scheduled at 9 am.

PGS Names the Most Sophisticated Seismic Vessel in the Industry

2009-07-21T09:40:11+02:00

The most sophisticated vessel in the seismic industry, the 22-streamer Ramform Sterling was named today at the yard in Tomrefjord, Norway

PGS sells Geo Atlantic to GC Rieber Shipping

2009-06-03T15:04:50+02:00

PGS announced that its subsidiary Arrow Seimic Invest I Ltd. has entered into an agreement to sell the seismic vessel Geo Atlantic to GC Rieber Shipping for USD 58 million in cash.

Capital increase - new certificate of registration

2009-05-29T14:34:51+02:00

The Norwegian Register of Business Enterprises has issued a new certificate of registration for PGS confirming the capital increase and nominal value of the shares.

Mandatory Notification of Trade

2009-05-28T07:59:51+02:00

PGS has today in connection with the announced private placement sold 3,625,223 treasury shares at a price of NOK 36,50 per share.

PGS private placement successfully completed

2009-05-28T07:19:51+02:00

PGS today announced its successful placement towards professional Norwegian and international investors

PGS private placement

2009-05-27T16:34:56+02:00

PGS has decided to effect a private placement directed towards professional Norwegian and international investors after the close of Oslo Børs today.

Strike Ended in Petroleum Geo-Services

2009-05-18T17:49:56+02:00

The strike in PGS has ended. Normal operations will be resumed on May 19.

Mandatory Notification of Trade

2009-05-15T13:39:56+02:00

Director Harald Norvik has purchased 8000 shares in Petroleum Geo-Services ASA.

PGS 2009 Annual General Meeting Completed

2009-05-14T11:14:56+02:00

The PGS shareholders resolved to approve all matters as proposed in today's AGM.

Flagging - Proxies for annual general meeting 2009

2009-05-13T13:29:56+02:00

Jens Ulltveit-Moe, chairperson of the Board of Directors in PGS, holds voting rights based on proxies for 30.6% of the shares in PGS registered at the deadline for registration for the Annual General Meeting.

New PGS/TGS MultiClient Rocks the Cradle of North Sea Production

2009-05-13T07:12:54+02:00

PGS and TGS announce a highly prefunded, high density MultiClient 3D survey in Quad 211 in the East Shetland Basin (ESB) of the UK Northern North Sea.

Q1 2009 Presentation

2009-05-12T07:04:56+02:00

View Q1 presentation (PDF)

First Quarter 2009 Results

2009-05-12T06:59:56+02:00

PGS today announced strong Q1 earnings. Despite lower market activity in a number of areas, adjusted EBITDA was $201.9 million, down only 13% from the same period last year.

Strike in Petroleum Geo-Services

2009-05-05T07:39:51+02:00

PGS and Parat, the union that organizes ca. 15% of the company's marine seismic crew, have not come to agreement regarding the employment agreement for 2009.

Annual Report 2008

2009-04-22T13:44:51+02:00

The Petroleum Geo-Services' Annual Report for 2008 is now available for download in two language versions.

PGS Rides 3D GeoStreamer® Wave to the North Sea

2009-07-21T09:38:40+02:00

PGS has brought 3D GeoStreamer® dual-sensor technology to the North Sea, kicking off the 2009 summer season.

PGS 2009 First Quarter Webcast and Conference Call Contact Details

2009-04-20T08:09:52+02:00

The 2009 first quarter financial results will be released on Tuesday, May 12, 2009 at approximately 8:00 am Central European Time (CET).

Calling Notice for Annual General Meeting

2009-04-16T13:29:50+02:00

Attached is the calling notice and proxy statement for Petroleum Geo-Services ASA's Annual General Meeting May 14, 2009 at 10:00 am CET.

Another Valiant Performance in Brazil

2009-04-17T14:33:20+02:00

The Merluza survey in Santos Basin was completed nearly two weeks ahead of schedule despite serious currents, voracious barnacles and large swell.

Mandatory Notification of Trade

2009-04-14T14:29:50+02:00

Mr. Francis Gugen, Vice Chairperson of the Board of Directors in Petroleum Geo-Services ASA, has on April 14th 2009 bought 30,000 shares in Petroleum Geo-Services ASA.

Claim against Arrow Seismic from CGGVeritas ruled unfounded by the court

2009-04-08T11:05:01+02:00

This week the Asker and Bærum court passed judgment in favor of Arrow. The court concludes that CGGV's claim for damages is unfounded.

Mandatory Notification of Trade

2009-04-06T07:05:01+02:00

PGS has re-purchased $10,000,000 of nominal value of its Convertible Bonds at a price of 48 percent of nominal value.

Ulltveit-Moe to step down as Chairperson of the Board of PGS -

2009-04-03T10:30:02+02:00

Jens Ulltveit-Moe will step down as Board Chairperson at the coming Annual General Meeting on May 14, 2009, to be replaced by Board Member Francis Gugen.

Vessel Allocation Q1 2009

2009-04-03T07:55:01+02:00

PGS routinely releases information about vessel utilization around the end of each quarter.

Automated Time Velocity Analysis

2009-04-02T09:32:10+02:00

Velocity analysis is the most time consuming and labor intensive procedure in the time processing sequence. This month's TechLink compares the relative merits of several PGS options for automating the job.

Update on New Builds in Spain

2009-03-30T15:04:59+02:00

PGS confirms its intention to pursue its claim for refund of the installed amounts following notice of "commencement of arbitration" from the Factorias Vulcano yard.

PGS Board Approves IFRS Financial Statements

2009-03-27T11:34:50+01:00

The Board of Directors has today approved the 2008 annual financial statements prepared in accordance with International Financial Reporting Standards.

PGS Exposes Trinidad and Tobago Potential

2009-03-30T12:21:10+02:00

PGS acquired three new MultiClient 2D projects covering the offshore Trinidad and Tobago area in 2008. Two of the surveys benefit from new dual-sensor GeoStreamer® technology.

Update on New Builds in Spain

2009-03-23T07:59:51+01:00

PGS announces that it has formally notified the Factorias Vulcano shipyard in Spain that it cancels the contract for New Build 532, and has called upon the refund of EUR 39 million with the addition of interest, as set out in the contract.

PGS Presents Dual-Sensor Streamer Advantages to Angola

2009-03-19T14:06:53+01:00

On March 25, Berit Osnes, Vice President Geophysics, PGS Marine will present advantages and experiences of dual streamer marine seismic acquisition to the Society of Petroleum Engineers, Angola Section.

Discover 'Hernando' - PGS Grows 3D Survey in DeSoto Canyon through Cooperation Agreement

2009-03-16T07:59:55+01:00

A cooperation agreement with TGS will combine the PGS Discovery DeSoto Canyon survey with TGS' ongoing Hernando survey into one large, seamless, 3D MultiClient project in the DeSoto Canyon.

Update on New Builds in Spain

2009-03-09T07:59:51+01:00

PGS, Arrow Seismic Invest II Ltd and Arrow Seismic Invest III Ltd have received formal notification by Factorias Vulcano that the yard intends to deliver hull number 532 under the shipbuilding contract specified for hull number 533.

PGS Poised to Capture Honduras Oil Data

2009-03-02T14:03:47+01:00

The Honduran government has granted PGS exclusive rights to acquire MultiClient data in the entire offshore territory of Honduras for a period of up to 10 years.

Mandatory Notification of Trade

2009-03-03T10:08:55+01:00

Jon Erik Reinhardsen, President & CEO in Petroleum Geo-Services ASA, has on March 2nd 2009 bought 20,000 shares in Petroleum Geo-Services ASA

GeoStreamer Cracks the Weather Window

2009-02-20T10:22:40+01:00

On January 12th, PGS completed a MultiClient 2D GeoStreamer survey in the Southern North Sea. Despite the climate and the weather, data quality is first class and bodes well for future winter acquisition using this technology.

PGS Q4 Presentation

2009-02-19T07:05:01+01:00

Record Year - Competitively Positioned. Well positioned to meet a challenging market.

Fourth Quarter and Preliminary Full Year 2008 Results

2009-02-19T07:00:01+01:00

PGS announced its best results ever, with revenues and earnings significantly up from previous records set in 2007. The order book remains above $1 billion.

GeoStreamer Quantification in Australia

2009-02-18T15:08:05+01:00

This month's TechLink analyses GeoStreamer data acquired in a spatially-coincident manner with conventional streamer data and demonstrates a number of quantitative improvements.

PGS 2008 Fourth Quarter information

2009-01-28T12:20:00+01:00

PGS will release its 2008 fourth quarter financial results on Thursday, February 19, 2009 at approximately 8:00 am Central European Time (CET).

Arrow New Builds - Contractual Regulation of Termination Rights

2009-03-31T08:31:07+02:00

Following speculations in the market the Company finds it appropriate to clarify certain facts relating to termination rights in the contracts governing the building of New builds 532 and 533 at Factorias Vulcano in Spain

Towed Streamer Technology

2009-01-23T12:20:20+01:00

The latest TechLink tracks and summarizes the evolution of towed seismic streamers from fluid-filled to solid-filled streamers, to combined pressure and particle velocity sensors within the streamer.

Stunning Data from 3D GeoStreamer® Survey

2009-01-12T16:11:31+01:00

Initial results are excellent from the Discovery survey in the Gulf of Mexico DeSoto Canyon. Dual sensor, deep tow GeoStreamer® acquisition is producing high productivity, high resolution, broad bandwidth data, with very good signal to noise ratio.

Vessel Allocation Fourth Quarter 2008

2009-01-06T11:25:12+01:00

PGS` seismic 3D vessel fleet used approximately 77 % of its total time to acquire marine contract and multi-client seismic in the fourth quarter of 2008.

Mandatory Notification of Trade

2008-12-29T07:05:12+01:00

The Company has re-purchased a total of $16,000,000 of nominal value of its Convertible Bonds.

PGS Capital Markets Day 2008

2008-12-03T07:31:45+01:00

View the PGS Capital Markets Day 2008 presentation slides here.

Ramform Sovereign Arrives in Brazil - Sets New Record

2008-12-12T15:45:09+01:00

Amid colorful banners and festive samba music, exuberant PGS clients and employees welcomed the Ramform Sovereign to Brazil in early October.

John Sherwood Receives SEG's Highest Honor

2008-11-25T16:13:01+01:00

John Sherwood received the Maurice Ewing honorary medal on Sunday November 9, during a special session at the SEG conference in Las Vegas.

PGS First 3D Seismic GeoStreamer® Survey in the Gulf of Mexico

2008-12-15T08:36:11+01:00

November 7, 2008. Petroleum Geo-Services announced that it will acquire a new MultiClient 3D seismic survey in the area of DeSoto Canyon located offshore Alabama and Florida in the Gulf of Mexico.

PGS Q3 2008 Presentation

2008-12-03T12:41:01+01:00

PGS Q3 2008 presentation can be viewed/downloaded here.

PGS Q3 2008 Presentation

2008-11-26T11:35:14+01:00

Third Quarter 2008 Results

2008-12-03T12:41:01+01:00

Petroleum Geo-Services ASA today announced its best quarter ever with an increase in revenues and earnings before interest and tax ("EBIT").

PGS Leads the Way in North Sea MultiClient 3D Seismic

2008-10-21T16:03:13+02:00

PGS has acquired over 5,000 sq. km of MultiClient data in the North Sea this year, mainly in Norway. These surveys are the latest in a highly prefunded 4-year campaign offshore Northwest Europe.

PGS to Qualify for the Norwegian Tonnage Tax Regime

2008-12-03T07:13:42+01:00

Reference is made to the Q1 and Q2 2008 earnings releases where PGS disclosed that it expected to seek to enter its subsidiaries PGS Shipping AS and PGS Shipping (Isle of Man) Ltd., owning five Ramform class seismic vessels and four six streamer vessels, to the new Norwegian tonnage tax ("NTT") regime with effect from January 1, 2008.

Vessel Allocation Third Quarter 2008

2008-10-21T15:43:48+02:00

Petroleum Geo-Services ASA announced today that its seismic 3D vessel fleet used approximately 81% of its total time to acquire marine contract and multi-client seismic in the third quarter of 2008.

PGS 2008 Third Quarter Results, Webcast and Conference Call Contact Details

2008-10-21T15:42:09+02:00

Petroleum Geo-Services ASA will as previously announced release its 2008 third quarter financial results on Friday, October 24, 2008 at approximately 8:00 am Central European Time (CET).

Mandatory Notification of Trade

2008-10-21T15:40:47+02:00

Petroleum Geo-Services ASA advises that the Company on 26 September 2008 re-purchased USD 29,500,000 of nominal value of its Convertible Bonds with ISIN NO 0010402761 (the CBs) at a price of 65.50 per cent per bond.

Mandatory Notification of Trade

2008-10-22T08:42:11+02:00

Mandatory Notification of Trade

2008-10-22T08:42:11+02:00

Jon Erik Reinhardsen, President & CEO in Petroleum Geo-Services ASA, has on September 18th 2008 bought 8,000 shares in Petroleum Geo-Services ASA at a price of NOK 79,86 per share.

Mandatory Notification of Trade

2008-10-21T15:38:36+02:00

Jon Erik Reinhardsen, President & CEO in Petroleum Geo-Services ASA, has on September 15th 2008 bought 5,000 shares in Petroleum Geo-Services ASA at a price of NOK 89,80 per share.

Substantial MultiClient 2D Investsments in 2008

2008-10-21T15:55:50+02:00

In 2008 PGS is significantly ramping up its investments in MultiClient 2D (MC2D). Targeting less mature basins worldwide, PGS has acquired 2D in the Andaman Sea, Indonesia, and Kenya.

PGS awarded major North Sea seismic Campaign for StatoilHydro

2008-10-21T15:34:10+02:00

Petroleum Geo-Services ASA has been awarded a contract for a series of seismic surveys to be conducted in the summer of 2009 for StatoilHydro. Four of the Company's seismic vessels will be involved in the surveys, giving a total contract value of around USD 100 million.

Mandatory Notification of Trade

2008-10-21T15:33:27+02:00

Dan Piette, board member of Petroleum Geo-Services ASA, has on July 25, 2008 bought 600 shares in Petroleum Geo-Services ASA at a price of USD 20,80 per share.

Mandatory Notification of Trade

2008-10-21T15:32:37+02:00

Jon Erik Reinhardsen, President & CEO in Petroleum Geo-Services ASA, has on July 25, 2008 bought 2,000 shares in Petroleum Geo-Services ASA at a price of NOK 110 per share.

Mandatory Notification of Trade

2008-10-21T15:31:33+02:00

The following primary insider in PGS ASA has bought 1500 shares at a price of NOK 107.75 per share in the company:

Q2 2008 Presentation

2008-10-21T15:19:04+02:00

Unaudited first Quarter 2008 results

Second Quarter and First Half 2008 Results

2008-10-21T15:15:47+02:00

Petroleum Geo-Services ASA ("PGS" or the "Company") today announced the best second quarter ever with an earnings before interest and tax ("EBIT") of $143.9 million, up $12.9 million compared to second quarter 2007.

Financial Calendar 2009

2008-10-21T15:14:36+02:00

Petroleum Geo-Services ASA - Financial Calendar 2009

Claim against Arrow Seismic ASA from CGGVeritas

2008-10-21T15:13:50+02:00

Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that its subsidiary Arrow Seismic ASA ('Arrow') has received a writ of summons to Asker og Bærum Tingrett from Compagnie Générale de Géophysique - Veritas ('CGGVeritas') where CGGVeritas claims compensation from Arrow of approximately USD 70 million.

PGS 2008 Second Quarter Results, Webcast and Conference Call Contact Details

2008-10-21T15:12:14+02:00

Petroleum Geo-Services ASA ("PGS" or the Company) (OSE: PGS) will as previously announced release its 2008 second quarter financial results on Friday, July 25, 2008 at approximately 8:00 am Central European Time (CET).

Vessel Allocation Second Quarter 2008

2008-10-21T15:10:43+02:00

Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that its seismic 3D vessel fleet used approximately 84% of its total time to acquire marine contract and multi-client seismic in the second quarter of 2008. This compares to 91% in the first quarter of 2008 and 88% in the second quarter of 2007. This news release represents no fundamental change to the vessel update dated June 9, 2008.

Mandatory Notification of Trade

2008-10-21T15:09:43+02:00

Jon Erik Reinhardsen, President & CEO in Petroleum Geo-Services ASA, has on June 26, 2008 bought 8,000 shares in Petroleum Geo-Services ASA at a price of NOK 126 per share.

No Personnel Injured After Fire Onboard Atlantic Explorer

2008-10-21T15:06:46+02:00

Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that on June 24th there was a fire in one of the auxiliary engines on the seismic vessel Atlantic Explorer, which was operating offshore Senja in Norway. The fire has been extinguished, and the vessel is under tow and retrieving streamers. All evacuated personnel have now returned to the vessel.

Fire Onboard Atlantic Explorer

2008-06-24T17:25:07+02:00

There has been a fire in the engine room on the seismic vessel Atlantic Explorer located offshore Senja in Norway. The fire has now been extinguished, and the main engine has been stopped. The crew presently has the situation under control.

Ramform Sovereign’s First MultiClient Survey

2008-06-17T09:46:42+02:00

PGS latest vessel, the Ramform Sovereign, has completed its first survey. The 800 sq. km MultiClient 3D survey was acquired in License PL402 in the Norwegian-Danish Basin and was underwritten by Talisman Energy Norge AS and its partners.

PGS - Implementation of stock option plan 2008

2008-06-16T08:39:11+02:00

Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that the 2008 stock option plan, as approved by the Annual General Meeting on May 7th 2008, has now been implemented by allocating 3, 059, 000 stock options. The Board of Directors has now decided on the individual allocation. This plan includes 294 employees which is an expanded group of employees compared to the previous plan....

PGS - Vessel Update May 2008

2008-06-09T08:31:43+02:00

FOR DETAILS, CONTACT: Tore Langballe, SVP Corporate Communications Phone: +47 67 51 43 75 Mobile: +47 907 77 841 Gottfred Langseth, Exec. Vice President & CFO Phone: +47 67 51 44 10 Mobile: +47 930 55 580 US Investor Services Katrina Hendrix Phone +1 281 509 8000 PGS has experienced weaker than planned vessel production in its Marine segment in...

PGS at EAGE 2008

2008-06-05T11:31:43+02:00

The 70th EAGE Conference and Exhibition will be held in Rome, Italy, from June 9 to 12 2008. The theme of the congress is “Leveraging Technology”, reflecting the need for innovation and continuous technological development. The PGS theme will be “A Clearer Image” and we will focus on our continued introduction of the GeoStreamer.

Ramform Sovereign Sets New Seismic Streamer Towing Record

2008-05-19T07:50:30+02:00

PGS announces the setting of a new industry streamer towing record achieved by their recently delivered vessel, Ramform Sovereign.

PGS Q1 2008 Presentation material

2008-05-08T07:20:18+02:00

PGS Unaudited First Quarter 2008 Results

2008-05-08T07:06:19+02:00

Best First Quarter Ever May 8, 2008: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") today announced its unaudited first quarter 2008 results under IFRS. - Highest quarterly revenues ever: Revenues of $456.6 million, up $104.1 million (30%). Operating profit of $166.1 million, excluding the gain from sale of Ramform Victory, up $46.6 million (39%) compared to Q1 2007...

PGS 2008 Annual General Meeting Completed

2008-05-07T11:55:19+02:00

May 7, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') held its Annual General Meeting on May 7, 2008 at the Company's premises at Lysaker. The Annual General Meeting resolved to approve all matters as proposed in the Calling Notice. **** Petroleum Geo-Services is a focused geophysical company providing a broad range of seismic and reservoir services, including...

PGS 2008 First Quarter Results, Webcast and Updated Conference Call Contact Details

2008-05-07T08:54:19+02:00

May 7, 2008: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company) (OSE: PGS) will as previously announced release its 2008 first quarter financial results on Thursday, May 8, 2008 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am CET at PGS' Headquarters at Lysaker, Norway. The event will be webcasted live and available...

Flagging - Proxies for annual general meeting 2008

2008-05-05T16:17:08+02:00

May 5, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that as of 5 May 2008 Jens Ulltveit-Moe, chairperson of the Board of Directors in PGS, holds voting rights based on proxies for 15, 802, 175 in PGS or 34.6 per cent of the shares registered at the deadline for registration for the Annual General Meeting to be held on 7 May 2008. Mr. Ulltveit-Moe...

PGS Awarded the Industry's Largest Ever HD4D Campaign

2008-05-05T09:44:08+02:00

Petroleum Geo-Services ASA ('PGS' or the 'Company') has been awarded by Petroleo Brasileiro S.A. a contract to undertake the largest High Density 4D (HD4D) marine seismic survey campaign ever in the industry, based on a tendered contract value of USD 251 million.

Annual Report 2007

2008-04-22T12:58:55+02:00

Below is Petroleum Geo-Services' annual report for 2007. Printed copies will be sent to all shareholders today. PGS Annual Report 2007

PGS 2008 First Quarter Results, Webcast and Conference Call Contact Details

2008-04-18T11:35:23+02:00

April 18, 2008: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company) (OSE: PGS) will as previously announced release its 2008 first quarter financial results on Thursday, May 8, 2008 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am CET at PGS' Headquarters at Lysaker, Norway. The event will be webcasted live and...

Launch of the North Sea MTEM Campaign

2008-08-20T14:05:33+02:00

(April 11, 2008) PGS announces today the launch of its North Sea MTEM campaign for 2008. Beginning in May, the programme will last ten weeks, and will target areas in both the UK and Norway Continental Shelves. A number of proprietary clients have shown interest and a series of Multi-client lines are planned.

Calling Notice for Annual General Meeting

2008-04-09T14:32:18+02:00

Attached is the calling notice and proxy statement for Petroleum Geo-Services ASA's Annual General Meeting May 7, 2008 at 10:00 am CET. The Annual General Meeting will be held at the PGS-House, Strandveien 4, 1366 Lysaker The calling notice and proxy is also attached in Norwegian. Calling Notice (PDF 277 KB)Proxy Statement (PDF 19 KB) Calling Notice (Norwegian)Proxy Statement (Norwegian)

Vessel Allocation First Quarter 2008

2008-04-04T07:15:04+02:00

April 4, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that its seismic 3D vessel fleet used approximately 91% of its total time to acquire marine contract and multi-client seismic in the first quarter of 2008. This compares to 69% in the fourth quarter of 2007 and 89% in the first quarter of 2007. PGS routinely releases information about...

Share Purchase by Primary Insiders

2008-03-28T15:37:31+01:00

28 March, 2008, OSLO, NORWAY - PGS had a 2007 Bonus Incentive Plan, under which certain employees received a regular cash bonus and a cash bonus earmarked for share purchase. Of the cash bonus earmarked for share purchase, the net amount (after withholding taxes) must be used to purchase shares in the open market at the prevailing market prices. In total PGS has today on behalf of the employees...

PGS Board Approves IFRS Financial Statements

2008-03-14T14:40:34+01:00

March 14, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that its Board of Directors has approved the 2007 annual financial statements based on international financial reporting standards ("IFRS"). The Company reported its IFRS unaudited 4th quarter and preliminary full year 2007 results on February 21, 2008. Except for certain minor balance sheets...

Jon Erik Reinhardsen new President and CEO of PGS

2008-02-21T07:26:38+01:00

February 21, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that Jon Erik Reinhardsen (51) is appointed as the new President and CEO of Petroleum Geo-Services ASA succeeding Svein Rennemo. Reinhardsen has since 2005 been President, Global Growth, Primary Products of the international aluminium company Alcoa Inc., based in New York, USA. Jon Erik...

PGS Unaudited Fourth Quarter and Preliminary Full Year 2007 Results

2008-02-21T07:19:39+01:00

Record year - Strong 2008 outlook February 21, 2008: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") today announced its unaudited fourth quarter and preliminary full year 2007 results under IFRS. 2007 - Best year ever: Operating profit of $494.5 million, up $135.0 million (38%) compared to 2006. Revenues of $1, 519.9 million, up $211.5 million (16%). Marine...

PGS 2007 Fourth Quarter Results, Webcast and Conference Call Contact Details

2008-02-05T09:37:57+01:00

February 5, 2008: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company) (OSE: PGS) will as previously announced release its 2007 fourth quarter financial results on Thursday, February 21, 2008 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call...

New PGS Multi-client 2D Survey in Côte d’Ivoire

2008-02-01T12:52:47+01:00

PGS, in co-operation with Petroci, has completed the acquisition, processing and interpretation of over 6,500 km of new 2D seismic data offshore Côte d’Ivoire. The data are now available for licensing from PGS.

PGS - Q4 earnings update

2008-01-31T08:03:46+01:00

January 31, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that it expects to report weaker results for its Onshore operations in Q4 than earlier indicated, due to weak crew continuity in Libya. The consolidated numbers will also be negatively impacted by substantially higher operating cost in the Marine segment than in the three previous quarters of the...

Crystal II for final delivery in late 2008

2008-01-22T10:43:06+01:00

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

PGS - Svein Rennemo to retire 1 April 2008

2008-01-16T16:28:15+01:00

January 16, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') has earlier announced that Svein Rennemo, President and CEO of PGS, will retire from PGS in the second quarter of 2008 in accordance with his contract. This will in practice take place 1 April 2008. Svein Rennemo is by the nominating committee of StatoilHydro nominated as the new chair of the board of...

PGS Provides Phase I of the Definitive Barents Sea Data Package

2008-01-15T11:08:36+01:00

Following on from the recent acquisition of Roxicon, PGS can now make available the underlying seismic data of phase 1 of the Barents Sea MegaProject.

Tore Langballe Appointed PGS Senior Vice President Group Communications

2008-01-15T08:00:03+01:00

PGS ASA announced today the appointment of Mr. Tore Langballe (41) as Senior Vice President Group Communications. Langballe comes from a position as SVP Corporate Communications and Investor Relations in Aker Yards ASA. Langballe will be responsible for PGS’ internal and external communications, including Investor Relations and Brand Management.

PGS - Vessel allocation Fourth Quarter 2007

2008-01-03T07:06:31+01:00

January 3, 2008: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that its seismic 3D vessel fleet used approximately 69% of its total time to acquire marine contract and multi-client seismic in the fourth quarter of 2007. This compares to 89% in the third quarter of 2007 and 80% in the fourth quarter of 2006. PGS routinely releases information about vessel...

Offer Memorandum Convertible Notes

2007-12-20T11:48:23+01:00

PGS - Update on vessel utilization and METI transaction

2007-12-19T07:27:14+01:00

December 19, 2007: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") announced today that, compared to the guidance given in the Company's interim financial report for Q3, the expected Q4 productive time and related revenues and margins in the marine contract segment have been reduced. This is primarily due to longer than scheduled yardstays and steaming for two Ramform vessels...

Frame contract with StatoilHydro

2007-12-04T11:54:17+01:00

StatoilHydro has awarded PGS a frame contract for seismic acquisition for 2008. The frame contract includes four months for each of the three vessels ”Ramform Challenger”, ”Ramform Sovereign” and ”Atlantic Explorer”.

Offer Document Arrow Seismic

2007-12-04T08:06:43+01:00

View pdf file of offer document.

PGS - Petroleum Geo-Services ASA completes the USD 400 million offering of Convertible Notes due 2012

2007-12-03T14:46:10+01:00

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW December 3, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that the terms for the USD 400 million Convertible Notes due 2012 (the...

Petroleum Geo-Services ASA: Mandatory Offer and Notification of Compulsory Acquisition of all remaining Shares in Arrow Seismic

2007-12-03T08:27:10+01:00

Reference is made to Petroleum Geo-Services ASA`s (`PGS`) press-release dated 12 November 2007. As previously announced, PGS holds 21, 359, 070 shares in Arrrow Seismic ASA (`Arrow`) corresponding to approximately 91% of all the issued and outstanding shares in Arrow. December 3, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that on 2 December 2007,...

Petroleum Geo-Services ASA : USD 400 Million Offering of Convertible Notes

2007-12-03T08:01:10+01:00

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW December 3, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that it intends to make an offering (the "Offering") of approximately USD 400...

PGS - Increased technology spending and improved pricing

2007-11-27T07:09:25+01:00

November 27, 2007, Oslo, Norway: - Petroleum Geo-Services ASA ("PGS" or the "Company") announced today at its annual Capital Markets Day in Oslo, that the Company expects a further strengthening of the market for seismic services in 2008. PGS continues to experience improved pricing and expects marine contract revenues to increase by around 40 percent in 2008 compared to 2007. The Company will...

GeoStreamer® Starts to Make Waves

2007-11-27T11:08:25+01:00

PGS announced today that its Next Generation Streamer, the revolutionary dual sensor seismic streamer launched this year, is to be named GeoStreamer®. It marks a significant step in the development of marine seismic recording, being the first ever towed streamer to successfully house both pressure and velocity sensors, thereby delivering enhanced resolution and deeper penetration to provide a higher quality, deghosted seismic image.

PGS Completes North Sea EM Campaign

2007-11-23T07:34:21+01:00

Petroleum Geo-Services ASA announced today that its Multi-Transient EM division has completed a series of surveys in the UK and Norwegian sectors of the North Sea in a project designed to raise awareness of the capabilities of its technology in a marine environment. Leon Walker, president of the Multi-Transient EM business unit, said: “We know the technology will help pinpoint the next round of oil and gas discoveries in the North Sea."

PGS - Mandatory offer for Arrow Seismic ASA

2007-11-12T07:29:20+01:00

November 12 , 2007: Oslo, Norway, Petroleum Geo-Services ASA ("PGS" or the "Company") has today acquired 18, 359, 070 shares in Arrow Seismic ASA ("Arrow") at a price of NOK 96 per share. Following the transaction, PGS holds 18, 359, 070 shares in Arrow corresponding to approximately 78% of all issued and outstanding shares in Arrow. In accordance with the Norwegian Securities Trading Act,...

PGS Unaudited Third Quarter 2007 Results

2007-10-24T07:48:48+02:00

Performance delivered October 24, 2007: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") today announced its unaudited third quarter 2007 results under IFRS. New record quarter: Operating profit of $167.4 million, up 77.2 million (86%) compared to Q3 2006. Revenues of $439.1 million, up $113.0 million (35%) Marine: Strong operating profit of $182.4 million in Q3 2007, up...

PGS 2007 Third Quarter Results, Webcast and Conference Call Contact Details

2007-10-17T07:39:21+02:00

October 17, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company) (OSE: PGS) will as previously announced release its 2007 third quarter financial results on Wednesday, October 24, 2007 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call have...

PGS - Acquisition of Depth Imaging Company AGS Inc

2007-10-17T07:30:21+02:00

October 17, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas...

PGS - Deferred Tax Asset Recognition in Q3 Financial Statements

2007-10-15T07:59:16+02:00

October 15, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") announced today that it expects to recognize approximately USD 150 million of additional deferred tax asset in its interim financial statements for the third quarter 2007. When the Company released its interim financial statements for the second quarter 2007 it reported that it had approximately USD 230...

Ola Bøsterud, VP Group Communications, Resigns for new Position in Aibel

2007-10-15T08:03:10+02:00

Vice President Group Communications Ola Bøsterud has resigned his job in PGS to take over a corresponding position in Aibel, a leading provider of products and services to the upstream oil and gas industry. Ola will take up his new position in Aibel on 1st December 2007.

PGS - Vessel Allocation Third Quarter 2007

2007-10-02T08:38:20+02:00

October 2, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS) announced today that its seismic 3D vessel fleet used approximately 89% of its total time to acquire marine contract and multi-client seismic in the third quarter of 2007. This compares to 88% in the second quarter of 2007 and 83% in the third quarter of 2006. PGS routinely releases information about...

PGS Tests ION’s DigiFIN Steerable Streamer System

2007-09-26T12:29:58+02:00

ION Geophysical Corporation, formerly known as I/O, has completed open water testing of its DigiFIN™ streamer control system on PGS’s seismic vessels Atlantic Explorer and Pacific Explorer. DigiFIN is a steerable streamer system for marine seismic acquisition vessels that provides lateral streamer control, a feature which improves the efficiency of acquisition operations and allows more streamers to be towed closer together to enhance the quality of the acquired seismic data.

Falkland Basin 3D Contract and Equity Investment

2007-09-24T10:59:33+02:00

September 24, 2007: Oslo, Norway, Petroleum Geo-Services ASA (’PGS’ or the ’Company’) announced today that it has signed a Seismic contract with Borders & Southern Petroleum PLC to conduct a 3D survey within its South Falklands Basin Production Licences. The contract is on attractive terms and represents the most extensive seismic 3D study ever conducted in this area. The study will be conducted by Ocean Explorer.

Maersk Oil Qatar and PGS Complete Industry's Largest Ever Ultra-High Resolution 3D Seismic Survey

2007-09-24T10:02:11+02:00

Maersk Oil Qatar has in cooperation with Qatar Petroleum recently completed the world's largest ultra-high resolution 3D seismic survey over the Al Shaheen field offshore Qatar. Acquisition started in October 2006 using the PGS vessel Pacific Explorer in an 8 streamer configuration with only 25 meters streamer separation and a single high resolution source.

SEG 2007 – PGS to Deliver ‘A Clearer Image’ of the Future

2007-09-18T12:43:54+02:00

PGS is pleased to once again play a very active part in attending the forthcoming SEG conference in San Antonio where you should not miss a visit to our Booth No. 2112. The company theme at this event will be ‘A Clearer Image’.

PGS - Creates MegaSurvey Centre of Excellence in Stavanger

2007-08-16T13:13:58+02:00

August 16, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') announced today that it has acquired Roxicon Geogrids AS based in Stavanger Norway for USD 12 million. Roxicon is specializing in multiclient seismic data merging for the North Sea based on released data sets for the Norwegian Continental Shelf. Their product range has been well received in the market, and...

PGS Acquires new MC Projects in Australia

2007-08-13T09:43:38+02:00

Petroleum Geo-Services (PGS) Asia Pacific has acquired its first Multi-Client (MC) surveys in Australia since 2001 following favourable changes to government legislation that came into effect on 1 January 2007. Acquisition on both the West Panaeus MC3D (c 1,050 sqkm) and the ambitious Deepwater NWS MC2D (c 17,500 km) started in March 2007 with both projects generating significant industry interest and support.

PGS Unaudited Second Quarter 2007 Results

2007-07-26T07:32:44+02:00

Another Record Breaking Quarter July 26, 2007: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") today announced its unaudited second quarter 2007 results under IFRS. New record quarter: Operating profit of $131.0 million, up 39.9 million (44%) compared to Q2 2006. Revenues of $355.9 million, up $45.5 million (15%) Marine: Operating profit of $129.3 million in Q2...

Helmut Jakubowicz Announced as New Professor for the PGS Chair of Petroleum Geophysics at Imperial College

2007-07-23T13:41:53+02:00

Imperial College London has appointed Dr. Helmut Jakubowicz as the PGS Professor of Petroleum Geophysics. Currently Manager of External Research at CGGVeritas, Dr. Jakubowicz will take up his new role at the beginning of September 2007.

US Delisting

2007-07-23T12:44:22+02:00

Petroleum Geo-Services (PGS) American Depositary Shares (ADSs) were delisted from the New York Stock Exchange as of July 20th 2007. The trading of the ADSs in PGS will continue on the Pink Sheets under the ticker symbol “PGSVY”.

PGS 2007 Second Quarter Results, Webcast and Conference Call Contact Details

2007-07-17T07:10:42+02:00

July 17, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company) (OSE and NYSE: PGS) will as previously announced release its 2007 second quarter financial results on Thursday, July 26, 2007 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call...

New Gulf of Mexico Data

2007-07-11T12:05:45+02:00

PGS announces its largest new data offering for this year’s lease sales. 1,350 blocks of new data which is clearly imaged with pre-stack depth migration.

Clearly Brazil

2007-07-12T12:07:09+02:00

» Multiple proven discoveries made on our Santos Basin MC3D library
» Largest MC3D library in Brazil with over 100,000 km2 to date
» Our seismic fleet has been continuously active in Brazil since 1994
» Offering highest local content of any seismic company in Brazil

PGS – Fiber Optic Permanent Installation in Deep Water Gulf of Mexico

2007-07-04T07:35:17+02:00

July 4, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) is scheduled to deploy its first 4C Fiber-Optic seismic monitoring system for a permanent seabed installation in deepwater Gulf of Mexico in the fourth quarter this year for Chevron Energy Technology Company, a Chevron Corporation subsidiary.

PGS - Vessel allocation Second Quarter 2007

2007-07-04T07:17:37+02:00

July 4, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its seismic vessel fleet used approximately 88% of its total time to acquire marine contract and multi-client seismic in the second quarter of 2007. This compares to 91% in the first quarter of 2007 and 87% in the second quarter of 2006. PGS routinely releases...

PGS - Refinancing Completed

2007-07-02T07:46:37+02:00

July 2, 2007, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it on June 29, 2007, completed the process to establish a new Senior Secured Credit Facility. The total facility amount of $950 million consists of an eight-year $600 million Term Loan B and a five-year $350 million Revolving Credit facility. The Term Loan B, which has no...

PGS - NYSE delisting and SEC registration termination

2007-06-27T07:09:33+02:00

June 27, 2007, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) has previously announced that it intends to delist its American Depositary Shares (ADSs) voluntarily from the New York Stock Exchange ("NYSE") and to terminate its registration and reporting obligations under Sections 12(g) and 15(d) of the Securities Exchange Act of 1934. The delisting and...

Additional information regarding MTEM

2007-06-26T09:00:40+02:00

PGS Upgraded by Moody’s

2007-06-22T08:21:32+02:00

(June 22, 2007) Petroleum Geo-Services (PGS) has been upgraded by the credit rating agency Moody’s Investors Service.

PGS acquires EM company MTEM Limited

2007-06-20T07:24:56+02:00

June 20, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS') (OSE and NYSE: PGS) announced today that it has entered into a definitive agreement to acquire MTEM Limited ('MTEM'), a provider of electromagnetic (EM) services used to detect the presence of hydrocarbons, for a price of USD 275 million on a debt free basis. USD 18 million of the purchase price is to be settled in PGS shares. A...

PGS 2007 Annual General Meeting Completed

2007-06-15T11:36:22+02:00

June 15, 2007: OSLO, NORWAY, - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) held its Annual General Meeting on June 15, 2007 at the Company's premises at Lysaker. The Annual General Meeting resolved to approve all matters as proposed in the Calling Notice, including the proposal in item 3 of a special dividend of NOK 10 per share. **** Petroleum Geo-Services is a...

PGS - Launching the Next Generation Streamer

2007-06-12T06:53:06+02:00

June 12, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) has today at the European Association of Geoscientists and Engineers ("EAGE") Trade Show in London, UK, launched its Next Generation Streamer technology providing higher quality seismic data to image the subsurface and help reduce risk in exploration and development decisions. Field trials in...

PGS Onshore - Core Values in Action

2007-07-06T08:51:15+02:00

For 10 days in February, 2007, PGS Onshore Crew 300 conducted highly successful multi-client 3D seismic operations in the town of Anadarko, Oklahoma, population approximately 8,000. This survey is remarkable because it includes a populated area, and because our proactive approach interacting with the community, its officials and the Bureau of Indian Affairs is an illuminating example of how PGS Onshore implements Core Values in all facets of our business.

PGS Seeks New Credit Facility

2007-06-05T08:16:23+02:00

June 5, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has started a process seeking to establish a new $800 million new Senior Secured Credit Facility, consisting of an eight-year $500 million Term Loan B and a five-year $300 million Revolving Credit facility. PGS targets to complete the process before the summer and expects to...

Promising Towed EM Technology

2007-05-26T08:22:22+02:00

Petroleum Geo-Services ASA has as previously disclosed for some years worked on Electromagnetic technology (EM) with the objective of developing solutions where both the source and recording device is towed. The technology is in its early phase, but based on progress of PGS’ research and development efforts, PGS expects that this technology will be ready for commercial operations within 1-2 years.

PGS Egersund MultiClient 3D – A Success Story

2007-05-21T08:19:30+02:00

In 2004/2005, Petroleum Geo-Services (PGS) acquired a large 3,470 square kilometer multi-client 3D survey over the Egersund Basin using the Atlantic and Pacific Explorer."We are already seeing a sales margin of 45%", comments Tom Ziegler, VP Global MultiClient.

PGS files Form 20-F for 2006

2007-05-18T06:42:42+02:00

May 18, 2007, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2006 containing audited consolidated financial statements prepared in accordance with U. S. GAAP. This filing was the first where many foreign registrants, including PGS, were required to comply...

PGS - Signing of the Japanese METI Agreements

2007-05-16T06:45:32+02:00

May 16, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) announced today that further agreements with the Japanese Ministry of Economy, Trade and Industry were entered into May 11, 2007. A Main Agreement, Sales Agreement and a License and Confidentiality Agreement were all entered into in accordance with the Heads of Agreement between PGS and METI as...

PGS Unaudited First Quarter 2007 Results

2007-05-10T07:08:35+02:00

Continued Earnings Growth May 10, 2007: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) today announced its unaudited first quarter 2007 results under IFRS. Best quarterly result ever: Operating profit of $119.5 million, up 15.5 million (15%) compared to Q1 2006. Revenues of $352.5 million, up $41.6 million (13%) Marine: Operating profit of...

PGS Crystal WATS Available for Central Lease Sale

2007-05-04T16:25:33+02:00

Petroleum Geo-Services will make Crystal WATS MC3D data available ahead of the planned MMS Leasesale 205 for the Central Gulf of Mexico OCS area, scheduled for October this year. This will allow companies to evaluate the exploration potential of the acreage on offer within the Crystal survey area.

Nigeria Licensing Round Road Show in Houston

2007-04-27T14:07:41+02:00

The Houston Leg of the 2007 Nigeria Licensing Round Road Show will be held on Monday, 30th April 2007 at the St. Regis Hotel, Houston.

PGS - 2007 Q1 Invitation, Webcast and Conference Call Contact Details

2007-04-26T07:03:18+02:00

April 26, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company) (OSE and NYSE: PGS) will as previously announced release its 2007 first quarter financial results on Thursday, May 10, 2007 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call...

PGS Unaudited IFRS Transition Report and Change of 2006 Norwegian GAAP Financial Statements

2007-04-20T12:50:50+02:00

April 20, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) released today its IFRS Transition Report. PGS is required to use International Financial Reporting Standards (IFRS) for its primary financial reporting effective from, and including, the first quarter 2007. The Company has historically, through December 31, 2006, presented its primary financial...

PGS - Strategic Investment in Genesis Petroleum

2007-04-17T07:05:40+02:00

April 17, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) announced today that it has purchased 25 million shares at GBP 0.20 per share in a private placement in the UK AIM listed Genesis Petroleum Corporation Plc ("Genesis"). This strategic investment secures PGS an ownership share of 24.36 percent in Genesis. PGS formed last year a seismic equity...

PGS - Vessel allocation First Quarter 2007

2007-04-11T07:31:09+02:00

April 11, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its seismic vessel fleet used approximately 89% of its total time to acquire marine contract and multi-client seismic in the first quarter of 2007. This compares to 82% in the fourth quarter of 2006 and 87% in the first quarter of 2006. PGS routinely releases information...

Busy North Sea Season

2007-04-11T07:07:22+02:00

PGS will employ four seismic vessels in the North Sea season 2007. The six streamer Atlantic Explorer has started acquiring seismic in the North Sea as the first PGS vessel to operate in the area for this year’s summer season. In a strong global seismic market, PGS will use four seismic vessels in the North Sea this year, compared to five vessels in 2006.

PGS Board Approves Norwegian GAAP Financial Statement

2007-04-02T06:48:29+02:00

March 30, 2007, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its Board of Directors has approved the 2006 Norwegian GAAP Financial Statements. Since the Company's primary financial reporting to the market is based on U. S. GAAP, the Norwegian GAAP financial statements are prepared to meet statutory requirements only. The Company...

Largest Moving Object on Earth

2007-03-26T18:53:10+02:00

The ambitious subsalt Wide Azimuth imaging project in the Gulf of Mexico, known as Crystal, represents an impressive set of record-breaking features and accomplishments. It should come as no surprise that what is needed to accomplish the challenging geophysical objectives is the most massive recording effort to date in the geophysical industry.

PGS - Long Term Cooperation with METI in Japan

2007-03-26T07:03:18+02:00

March 26, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) announced today that it has entered into a Heads of Agreement with the Japanese Ministry of Economy, Trade and Industry (METI) for a long term cooperation agreement, which will include the sale and flag change of the 3D seismic vessel Ramform Victory and the continued provision by PGS of...

Number One Offshore Africa

2007-03-05T07:21:00+01:00

Petroleum Geo-Services (PGS) was the largest seismic company offshore Africa in 2006. The African market has been an important seismic market for PGS in 2006. Based on acquired square kilometer of 3D contract and multi-client seismic, PGS had a market share of approximately 40% of the African seismic market in 2006, according to internal estimates.

PGS Unaudited Fourth Quarter and Full Year 2006 Results

2007-02-26T07:23:19+01:00

Best year ever - Strong outlook February 26, 2007: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) today announced its unaudited fourth quarter 2006 results under U. S. GAAP. Record earnings in 2006: Operating profit of $409.9 million, up $279.7 million (215%) compared to 2005. Revenues of $1, 308.5 million, up $420.5 million (47%). Operating...

PGS 2006 Q4 Results Invitation

2007-02-14T06:49:35+01:00

February 14, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company") (OSE and NYSE: PGS) will as previously announced release its 2006 fourth quarter financial results on Monday, February 26, 2007 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference...

Republic of South Africa 2007 License Round

2007-02-13T08:06:41+01:00

The Petroleum Agency SA has announced its intention to hold a license round in 2007, the closing date for applications is 31st July. See survey

PGS - Chartering of Source and 2D Vessel

2007-02-06T07:00:25+01:00

February 6, 2007: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) announced today that PGS has entered into a 4 year firm Time-Charter with 2 x 1 year options with SeaBird Exploration Limited (BVI) for the "Harrier Explorer" as a fully equipped and operated source vessel. PGS has the option to use the vessel as a 2D vessel by covering the cost of additional...

Award of Licenses in UK 24th Seaward Licensing Round

2007-02-02T10:14:01+01:00

(February 2nd, 2007) Petroleum Geo-Services joint venture company Genesis Petroleum Europe Ltd (Genesis Europe) has been awarded a 100% interest in the northern part of the 16/8c License in the UK 24th Seaward Licensing Round. PGS has an ownership of 50% in Genesis Europe.

Opening of the 1st Licensing Round Offshore Cyprus

2007-01-26T13:38:23+01:00

The first licensing round offshore Cyprus will be officially opened in Nicosia, Cyprus on Thursday the 15th February 2007.

PGS - Board Member resigns

2007-02-01T10:07:10+01:00

January 22, 2007: OSLO, NORWAY - Petroleum Geo-Services ASA ('PGS' or the 'Company') (OSE and NYSE: PGS) announced today that Mr. Anthony Tripodo has resigned from the Board of Directors effective from February 1, 2007, due to his recent appointment as Executive Vice President and Chief Financial Officer of the oil services company Tesco Corporation. Tesco is a global leader in the design,...

PGS - Vessel Allocation Fourth Quarter 2006

2007-01-04T06:54:59+01:00

January 4, 2007: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its seismic vessel fleet used approximately 80% of its total time to acquire marine contract and multi-client seismic in the fourth quarter of 2006. This compares to 83% in the third quarter of 2006 and 78% in the fourth quarter of 2005. PGS routinely...

New Satellite DP Centre in Mexico

2007-01-02T08:41:16+01:00

PGS has opened a satellite Data Processing Centre in Villahermosa, Mexico. The new center is equipped with full seismic data processing capabilities utilizing PGS’ proprietary CubeManager™ software and leading edge holoSeis 3D visualization technology.

PGS Awarded Woodside Marine Seismic Processing Contract

2006-12-28T10:45:58+01:00

PGS Australia has received the Notice of Award of a contract to provide data processing services for all of Woodside’s global marine data processing controlled from Australia. The contract has an initial term of two years with the option to extend to four years.

PGS Extraordinary General Meeting Completed

2006-12-14T06:44:22+01:00

December 13, 2006, Oslo, Norway - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) held an Extraordinary General Meeting on December 13, 2006 at the Company's premises at Lysaker. The Extraordinary General Meeting resolved to approve all matters as proposed in the Calling Notice for the Extraordinary General Meeting, among these an increase of the share capital of NOK 1...

PGS - Improved 2007 Marine Contract Margins

2006-12-05T07:29:58+01:00

December 5, 2006: Oslo, Norway - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today at its annual Capital Markets Day that the Company expects the EBIT marine contract margin to increase substantially to around 50% for 2007. The margin is impacted by industry wide cost inflation and increased R&D expenditures as previously disclosed. Furthermore, PGS...

Great Interest in the Cyprus Licensing Round

2006-11-24T13:01:39+01:00

The 1st licensing round offshore Cyprus is upcoming shortly, and a presentation was being held in London on November 20. Approximately 100 people from 60 oil companies, representing countries such as Norway, India, China, USA, Russia and the UK, participated in the event. “We’re happy to see the great interest in this licensing round,” says Mark Spencer Jones, Business Development Manager Middle East & CIS.

Contract Offshore Qatar

2006-11-15T10:12:44+01:00

Petroleum Geo-Services ASA is currently acquiring 3D seismic data for Maersk Oil Qatar. PGS will survey an area of approximately 2,350 square kilometers under the contract.

Hostages Freed in Nigeria

2006-11-02T08:27:38+01:00

PGS is presently operating a shallow water seismic crew offshore Nigeria. The operation involves the deployment of a large number of seismic sensors on the sea bed from small vessels and the crew members are accommodated on two larger support ships. Shortly after midnight on the morning of Thursday, November 2nd, two PGS employees, one US citizen and one UK Citizen, were abducted by a group of armed men from the vessel HD Commander while anchored near the Funiwa Platform offshore Bayelsa state.

1st Licencing Round Offshore Cyprus

2006-10-30T10:11:38+01:00

The 1st Licensing Round offshore Cyprus is upcoming shortly and PGS and the Ministry of Commerce, Industry and Tourism, Cyprus are hosting a presentation in London on the 20th of November. The licensing round is based on the PGS MC2D acquisition which involved approximately 7000 line-km’s of MC2D seismic data covering an area of 60,000 km2 over the Eratosthenes structure, Levant Basin, and the prolific Nile Delta. The survey is available from November, 2006 and ties all the wells in the Deepwater Nemed Block in Egypt.

PGS Unaudited Third Quarter 2006 Results

2006-10-26T07:21:57+02:00

Strong market momentum continues October 26, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today its unaudited third quarter 2006 results under U. S. GAAP. Strong earnings momentum maintained: Operating profit of $95.2 million, up $50.4 million (113%) compared to Q3 2005. Revenues up 54% Record order backlog: Order backlog...

PGS 2006 Third Quarter Results, Webcast and Conference Call Contact Details

2006-10-18T08:28:11+02:00

October 18, 2006: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the Company") (OSE and NYSE: PGS) will as previously announced release its 2006 third quarter financial results on Thursday, October 26, 2006 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and...

New Russian Joint Venture with GeoHazar

2006-10-04T12:50:50+02:00

Petroleum Geo-Services ASA announced today that it has signed a 50/50 % Joint Venture agreement with the Russian Company GeoHazar. PGS has cooperated with GeoHazar in the shallow waters of the Caspian Sea since 1997.

PGS at the SEG International Exposition & 76th Annual Meeting

2006-10-03T08:22:10+02:00

PGS is pleased to once again play a very active part in attending the forthcoming SEG conference in New Orleans and you should not miss a visit to our Booth No. 1046 at Ernest N. Morial Convention Center. The company theme at this event will be ‘A Clearer Image’ which is a philosophy that is followed by all parts of PGS.

PGS Re-enters the Gulf of Mexico

2006-09-29T14:51:28+02:00

Petroleum Geo-Services ASA announced today that it will acquire a new Multi-Client 3D seismic survey in the areas of Garden Banks, Keathley Canyon, Green Canyon and Walker Ridge located offshore Louisiana and Texas in the Gulf of Mexico. See survey

PGS - Option for second new Ramform vessel exercised

2006-09-28T07:05:56+02:00

September 28, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has decided to exercise the option with Aker Yards, Langsten to build an additional new third generation Ramform vessel, "Ramform 8". This new and improved Ramform class seismic vessel is a sister vessel of the previously announced "Ramform 7", which is currently being...

PGS - Vessel Allocation

2006-09-27T07:11:03+02:00

September 27, 2006: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) has introduced as a regular routine to report vessel utilization around the end of each quarter and announced today that its seismic vessel fleet used approximately 50% of its total time to acquire marine contract seismic in the third quarter of 2006. This compares to 78% in the second...

PGS Re-enters the Gulf of Mexico

2006-09-11T08:00:57+02:00

September 11, 2006: Oslo, Norway - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it will acquire a new Multi-Client 3D seismic survey in the areas of Garden Banks, Keathley Canyon, Green Canyon and Walker Ridge located offshore Louisiana and Texas in the Gulf of Mexico.

PGS Sells its Petrojarl Shareholding

2006-08-23T08:26:50+02:00

August 23, 2006 Oslo, Norway - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has sold 6, 467, 440 shares in Petrojarl ASA for NOK 60 per share. This represents 8.6% of the share capital in Petrojarl ASA. Subsequent to the sale, PGS owns no shares in Petrojarl ASA. PGS will be further compensated with the difference in the event the buyer in a...

PGS Unaudited Second Quarter 2006 Results

2006-07-27T07:55:40+02:00

Strong market momentum continues July 27, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today its unaudited second quarter 2006 results under U. S. GAAP. Petrojarl demerger and offering completed and PGS is once more a dedicated geophysical company: The demerger and offering of Petrojarl (PGS's former Production segment) was...

Standard & Poor’s Upgrades PGS to “BB-“

2006-07-18T09:11:15+02:00

Standard & Poor’s Rating Services has raised its credit rating on Petroleum Geo-Services ASA (PGS) from “B+” to “BB-“.

Second Quarter Results Presentation and Webcast Details

2006-07-14T07:05:38+02:00

July 14, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA (PGS) will as previously announced release its 2006 second quarter financial results on Thursday, July 27, 2006 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call have also been scheduled that same day...

PGS ADRs

2006-07-07T15:15:36+02:00

July 7, 2006: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has been informed by the New York Stock Exchange that its ADRs in the US will on Friday July 7 trade inclusive of the right to receive Demerger Shares in Petrojarl. New York Stock Exchange will in due course announce the ex date. **** Petroleum Geo-Services is a focused...

Lower Cretaceous Project

2006-07-06T13:27:12+02:00

PGS is pleased to announce a new multi-client study into the regional distribution of Lower Cretaceous-aged sand fairways in the North Sea. This project will integrate over 2,500 wells with over 100,000 km2 of PGS MegaSurvey seismic data. The first phase of this study started in May centres in the Witch Ground Graben and Fisher Banks areas of the Central North Sea and will be completed in November 2006.

Petrojarl listed, PGS a pure Geophysical Company

2006-06-30T07:05:36+02:00

June 30, 2006: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that Petrojarl ASA ("Petrojarl"), the former FPSO business demerged from PGS, will be listed on the Oslo Børs today (ticker PETRO). PGS' offering of 19.99% of Petrojarl's share capital was priced at NOK 43 per share. The total number of Petrojarl shares sold in the offering was 14,...

Demerger of Petroleum Geo-Services ASA Completed

2006-06-29T21:10:36+02:00

June 29, 2006: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that the demerger of PGS has been completed and registered in the Register of Business Enterprises as outlined in the demerger plan which was approved at the extraordinary general meetings of PGS and Petrojarl ASA ("Petrojarl") on April 28, 2006. All of the shares in Petrojarl,...

Hostages Freed in Nigeria

2006-06-25T16:56:12+02:00

PGS is pleased to report that the two hostages, Joseph Doctorlero and Pacifico Gajo were released 3.45 local Nigeria time today, and confirms that they are both in good health.

Update on Hostage Taking

2006-06-23T15:51:38+02:00

PGS is pleased to report that it has received further information concerning the state of the two hostages and confirms that they are both in good health. The company hopes that contact can soon be established with the hostage takers and is coordinating efforts to bring this situation to a quick and successful conclusion.

Hostage Taking in Nigeria

2006-06-21T14:00:15+02:00

PGS confirms that about noon yesterday, two contract employees from Beaufort International were abducted by six armed men in Port Harcourt, Nigeria.

PGS - Commencement of Petrojarl Global Offering

2006-06-19T06:55:36+02:00

June 19, 2006: OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today the global offering of up to 14, 999, 990 ordinary shares (the "Global Offering") of Petrojarl ASA ("Petrojarl"). The indicative offer price range is set from NOK 37 to NOK 47 per share. The demerger of the PGS Production business to a new company, Petrojarl, is...

PGS - Teekay Petrojarl Offshore agreement signed

2006-06-15T11:05:42+02:00

June 15, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its wholly owned subsidiary Petrojarl (PGS Production) has finalized and signed the agreement with Teekay Shipping Corporation (Teekay) governing the joint venture company called Teekay Petrojarl Offshore. As previously announced the joint venture will focus on pursuing...

PGS Production Becomes Petrojarl

2006-06-06T18:37:45+02:00

As previously announced, PGS ASA is demerging its production business to Petrojarl, and Petrojarl is expected to be listed on or about 30 June 2006. As a part of the preparation for the demerger, PGS Production will from June 6 change its name to Petrojarl.

PGS - New Petrojarl Board appointed

2006-05-30T07:22:03+02:00

May 30, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that an extraordinary general meeting was held in Petrojarl ASA ("Petrojarl") May 29, 2006, where PGS as the sole shareholder in Petrojarl elected new directors for the Board of Petrojarl effective as of June 30, 2006. As previously announced, PGS is demerging its production...

Busy North Sea Season

2006-05-29T11:25:25+02:00

Petroleum Geo-Services (PGS) will in 2006 have five seismic vessels acquiring 3D seismic in the North Sea. PGS estimates to shoot approximately 6,000 square kilometer of 3D multi-client seismic in the North Sea this season, all highly pre-funded.

2006 APA round in the North Sea and Norwegian Sea

2006-05-16T10:35:34+02:00

On the 21st of February the Norwegian Government announced the predefined areas for the 2006 round in the North Sea and Norwegian Sea. This announcement contain of 192 blocks or part of blocks. Closing date for the applications will be 29th of September 2006 at 12pm.

Multi-Client Agreement for Offshore Lebanon

2006-05-15T14:39:24+02:00

Oslo, Norway, May 12th, 2006- PGS in cooperation with the Ministry of Energy and Water are pleased to announce that they have signed an agreement on multi-client MC3D seismic for offshore Lebanon.

Petrobras Contract to PGS in Brazil

2006-05-15T09:16:35+02:00

PGS Suporte Logistico e Servicos Ltda (Petroleum Geo-Services Data Processing) in Rio de Janeiro, Brazil, has been awarded a three year contract by Petrobras to process a minimum 14,000 square kilometers of 2D and 3D seismic data. Processing of the data will commence in 2006.

Multi-Client Agreement for Offshore Cyprus

2006-05-05T13:20:14+02:00

PGS in cooperation with the Ministry of Commerce, Industry and Tourism, Cyprus are pleased to announce that they have signed an exclusive multi-client MC2D and MC3D seismic agreement for offshore Cyprus.

PGS Announces Unaudited First Quarter 2006 Results

2006-05-04T07:08:17+02:00

Unparalleled Strength in Seismic Performance

PGS Extraordinary General Meeting Completed

2006-04-28T08:08:24+02:00

April 28, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) held an Extraordinary General Meeting on April 28, 2006 at the Company's premises at Lysaker. The Extraordinary General Meeting resolved to approve the demerger in accordance with the demerger plan as proposed in the Calling Notice for the Extraordinary General Meeting.**** This press release...

PGS 2006 First Quarter Results, Presentation, Webcast and Conference Call Contact Details

2006-04-27T07:10:49+02:00

April 27, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) will as previously announced release its 2006 first quarter financial results on Thursday, May 4, 2006 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call...

Shareholder Information Statement

2006-04-10T08:12:22+02:00

Filing of Shareholder Information Statement

2006-04-10T08:01:03+02:00

April 10, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that in connection with its previously announced proposed demerger it has filed an extended stock exchange release in the form of a Shareholder Information Statement with the Oslo Stock Exchange. A copy of the Shareholder Information Statement will also be filed with the U. S....

PGS Form 20-F for 2005 Filed

2006-04-06T07:28:36+02:00

April 6, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2005 containing audited consolidated financial statements prepared in accordance with U. S. GAAP. In the process of completing the audited U. S. GAAP financial statements, the Company recorded a...

PGS Releases the Ultimate Depth Imaging Solution

2006-04-04T10:58:38+02:00

PGS announces the commercial release of a reverse time migration (RTM) solution for high-end wave equation pre-stack depth migration applications, thereby reinforcing its industry-leading portfolio of wave equation solutions. RTM has hitherto been too computationally demanding to find commercial application. PGS has, however, harnessed its expertise and experience with multi-parallel depth migration research to deliver an RTM product this is both practical and highly accurate.

PGS Board Approves Norwegian GAAP Financial Statements

2006-03-28T08:38:40+02:00

March 28, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its Board of Directors has approved the 2005 Norwegian GAAP Financial Statements. Since the Company’s primary financial reporting to the market is based on U. S. GAAP, the Norwegian GAAP financial statements are prepared to meet statutory requirements only. The Company...

PGS to Demerge its Production Activities

2006-03-28T07:52:49+02:00

March 28, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its Board of Directors has decided to recommend to PGS' shareholders a separation of the Company into two separately listed businesses by demerging its activities within floating production (the "Production Business") into a newly-formed entity named Petrojarl ASA...

PGS to Build Third Generation Ramform

2006-03-20T07:50:45+01:00

March 20 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has decided to build a new third generation Ramform vessel. The Company has signed an agreement of main commercial terms to build the vessel at Aker Yards, Langsten. The new and improved Ramform class seismic vessel has an agreed cost from the yard including installation, but excluding the cost of seismic equipment, of NOK 562 million (approximately $85 million). The agreement is subject to satisfactory completion of a final contract and board approval in Aker Yards.

PGS Production enters into strategic joint venture with Teekay to pursue FPSO projects

2006-02-21T07:25:20+01:00

February 21, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its wholly owned subsidiary PGS Production has entered into an agreement with Teekay Shipping Corporation (Teekay) to form a joint venture company called Teekay Petrojarl Offshore that will focus on pursuing opportunities in the rapidly growing global market for Mobile...

PGS Announces Unaudited Fourth Quarter and Preliminary Full Year 2005 Results

2006-02-21T07:15:13+01:00

Strong Seismic Performance February 21, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today its unaudited fourth quarter 2005 results under U. S. GAAP. Operating profit substantially improved: Q4 operating profit of $47.2 million. Excluding an $8.1 million additional gain from the sale of Pertra, operating profit of $39.1...

PGS' 2005 Fourth Quarter Results, Presentation, Webcast and Conference Call Contact Details

2006-03-20T14:44:48+01:00

February 10, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA (PGS) will as previously announced release its 2005 fourth quarter financial results on Tuesday, February 21, 2006 at approximately 8:00 am Central European Time (CET). A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call have also been scheduled that...

PGS' 2005 Fourth Quarter Results, Presentation, Webcast and Conference Call Contact Details

2006-02-21T07:01:19+01:00

PGS Opens New Office in Kuala Lumpur

2006-02-06T14:17:40+01:00

On 20th January PGS officially opened its new office in Kuala Lumpur, Malaysia. The office houses our new data processing centre, headed by Centre Manager Charlie Har, but will also service all PGS’ businesses in Malaysia. DP currently has 10 people in the new centre, including 5 new locally-hired geophysicists.

Stavanger University Students Visit Houston Office and Mega Center

2006-02-03T09:39:20+01:00

On Tuesday, Jan. 17th, the PGS office in Houston hosted a visiting group of 32 petroleum technology students from Stavanger University. The students were treated to overviews of PGS and the seismic industry, a documentary video of the FOURcE crew’s record-breaking 3D 4C over Roncador in Brazil, HoloSeis demos, and a tour of the Houston Mega Center.

Talisman Option on Petrojarl Varg not exercised

2006-02-02T08:53:26+01:00

February 2, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that Talisman and the other License owners of Production Licence (PL) 038 did not exercise their option to change contract terms for Petrojarl Varg's production of the Varg field. As previously disclosed, Talisman and PGS entered in February 2005 into an option agreement...

Ramform Valiant Shatters World 3D Production Record in Offshore Brazil

2006-01-17T15:18:47+01:00

The Ramform Valiant acquired 4,656 sail kilometers during the month of December while working in the Camamu Almada Basin, offshore Brazil. Towing a streamer configuration of 10 x 6,000 meter long streamers at 100 meter streamer separation, this translates to 2,328 square kilometers in a single month! This is believed to be a new world record for any seismic vessel.

Houston DP Recommended for ISO 9001 Certification

2006-01-17T15:12:01+01:00

PGS Data Processing NSA has been recommended for certification to the ISO 9001:2000 quality standard. This follows a four-day audit of the HSE&Q Management System conducted in Houston by Lloyds Register Quality Assurance Inc. Houston joins DP operations in Oslo, Cairo, Walton and Aberdeen in being a certified, quality-assured organization.

PGS Commences First-ever Customized 4D Survey in Australia

2006-01-12T08:59:05+01:00

PGS has commenced the first-ever customized baseline time-lapse 4D survey for BHP Billiton Petroleum on the North West Shelf of Australia. The 4D survey will use the high-end HD3D-4D acquisition strategy pioneered by PGS, and now embraced by many oil companies around the world.

PGS Production Secures Tanker for FPSO Conversion

2006-01-13T11:01:01+01:00

January 12, 2006, OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that its wholly owned subsidiary PGS Production has entered into an agreement to purchase the shuttle tanker MT "Rita Knutsen" from Knutsen OAS Shipping for USD 35 million. PGS Production has developed plans for a conversion of the ship to a Floating Production, Storage and...

Gullfaks 4C Survey Completed

2006-01-06T10:39:51+01:00

Ocean Explorer, Bergen Surveyor and Falcon Explorer completed the Gullfaks 4C survey for Statoil on the 1st January 2006. “We want to commend the 4C crew for a very well performed survey", comments Rune Eng, President Marine Geophysical.

PGS Signs MC2D Agreement for Mega Regional Survey in Russia

2006-01-04T10:21:15+01:00

Petroleum Geo-Services ASA has signed an agreement with Russian partner RostNefteGas Geo for an onshore Mega Regional MC2D in the Republic of Kalmykia and District of Rostov.

PGS Refinancing Completed

2005-12-29T16:24:27+01:00

PGS has entered into a new $1 billion senior secured credit facility.

PGS Extends Expiration Date of Tender Offer for 10% Senior Notes Due 2010

2005-12-29T16:24:27+01:00

The expiration date has been extended to 8:00 a.m., New York City time, on December 16, 2005.

PGS 3D Seismic Data in Togo Available for Licensing

2005-12-29T16:24:50+01:00

Closing date for applications for License Round for Togo open offshore deep-water acreage, is 1 May 2006. PGS has 3,100 km² of MC3D seismic data over the offshore area.

PGS - Improved Marine Contract Margins Expected in 2006

2005-12-29T16:24:26+01:00

December 5, 2005, OSLO, NORWAY - Petroleum Geo Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today at its annual Capital Markets Day that the Company expects improved contracts margins for Marine Geophysical in 2006 compared to 2005. Furthermore PGS guided that Marine Geophysical multi-client late sales are expected to be lower in 2006 than in 2005. Multi-client investments...

PGS - 99% Consent to Amend Indentures on Senior Notes

2005-12-29T16:24:26+01:00

December 1, 2005, OSLO, NORWAY - Petroleum Geo Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that, as of 5:00 p. m., New York City time, on Wednesday, November 30, 2005, tenders and consents representing approximately 99% of the $745.9 million aggregate principal amount of its outstanding 10% Senior Notes due 2010 (the "Notes") had been received. Consequently, PGS has...

PGS Poised to Plug the Seismic Gap

2005-12-29T16:24:11+01:00

Upstream November 18 2005: Seismic contractor Petroleum Geo-Services has kicked off the second in a series of land-to-sea seismic shoots in Texas, which aims to image the deep shelf play along the Texas and Louisiana Gulf Coast and tie stratigraphic and structural information between onshore and offshore by, writes Blake Wright.

PGS - Extension of Consent Payment Deadline Relating to 10% Senior Notes Due 2010

2005-12-29T16:24:25+01:00

November 29, 2005: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that, as of 11:30 a. m., New York City time, on November 29, 2005, tenders and consents representing approximately 98% of the $745.9 million aggregate principal amount of the Notes were received. The indenture governing the Company's outstanding 10% Senior Notes due 2010 (the...

2000 Days Without LTI

2005-12-29T16:24:10+01:00

Petrojarl Foinaven has reached the impressive milestone of 2000 days without Lost Time Incidents. This past year a significant amount of work has been conducted on board, and everyone on board have worked extremely hard to maintain a safety focus.

PGS Receives Ratings From S&P and Moody’s on New Facility

2005-12-29T16:24:10+01:00

Standard & Poor?s (S&P) has assigned a "B+" rating on the new term loan and credit facility that Petroleum Geo-Services (PGS) is raising. The rating is the same as the agency has on PGS current Senior Notes but the outlook was revised upwards from stable to positive.

Petroleum Geo-Services ASA Clarifies Tender Offer Purchase Price Fixing Date

2005-12-29T16:24:25+01:00

SEPTEMBER 01, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that its oil subsidiary, Pertra, plans to drill a new exploration well on Production License (PL) 038. The well will be drilled on the "Villmink" prospect seven kilometers southeast of the Varg field on the Norwegian Continental Shelf.

PGS Launches Full Refinancing and Explores Separation

2005-12-29T16:24:24+01:00

November 15, 2005: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that, following a comprehensive review of PGS' strategy and financial structure, its Board of Directors has decided to refinance most of the Company's debt by raising a new $1 billion facility, comprised of a $850 million term loan and $150 million revolving credit facility...

Petroleum Geo-Services ASA Announces Cash Tender Offer and Consent Solicitation for All Outstanding 10% Senior Notes Due 2010

2005-12-29T16:24:23+01:00

November 15, 2005: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that it has commenced a cash tender offer and consent solicitation for any and all of its outstanding $745.9 million aggregate principal amount of 10% Senior Notes due 2010 (the "Notes"). The tender offer is scheduled to expire at 8 a. m New York City time, on December 14,...

HD3D Comes to Australia

2005-12-29T16:24:09+01:00

PGS Asia-Pacific has recently embarked on a long offset HD3D survey for ENI Australia. The survey has already established several records: The longest streamer offsets, the most streamers deployed, and the largest trace density for a HD3D survey acquired in Australia.

PGS Announces Unaudited Third Quarter 2005 Results

2005-12-29T16:24:22+01:00

PGS Attends 75th Anniversary Conference of the SEG in Houston

2005-12-29T16:24:09+01:00

From November 6th - 11th all eyes in the geophysical world will be focused on the George R. Brown conference center in Houston, where PGS will attend the 75th anniversary meeting of the Society of Exploration Geophysicists (SEG). PGS will be well represented in both the technical conference and the exhibition.

PGS 2005 Third Quarter Results, Presentation, Webcast and Conference Call Contact Details

2005-12-29T16:24:22+01:00

The news release concerning the 2005 third quarter financial results and a corresponding slide presentation will be posted at Petroleum Geo-Services' web site at www. pgs. com. Interested parties can listen to the conference call and management's remarks to the slide presentation over the Internet or by telephone. To participate on the simulcast of the conference call over the Internet,...

PGS Announces Redemption of the Remaining USD 75 Million of Its 8 % Senior Notes, Due 2006

2005-12-29T16:24:21+01:00

Espen Klitzing New PGS Production President

2005-12-29T16:24:21+01:00

Prior to joining PGS, Klitzing had wide business experience, including the consulting firm McKinsey, the Norwegian insurance group Storebrand and the private investment company Kistefos. In Storebrand, Klitzing, from 1999 to 2004, was CEO of Storebrand Livsforsikring (Life Insurance), a company with a premium income of NOK 9.7 billion and 675 employees. Klitzing also has extensive experience from...

Reopening of the Houston Office

2005-12-29T16:24:07+01:00

The PGS Memorial Office facility opened for business on Monday, September 26th. The offices were closed on Thursday September 22nd and Friday September 23rd. Employees were returning to the offices after being dismissed due to the Hurricane Rita. Everything is now back to normal both at Memorial Drive and at the Houston Megacenter.

Information to staff affected by the Hurricane Rita

2005-12-29T16:24:07+01:00

PGS urge all employees affected by the hurricane Rita to report their whereabouts and status to their line manager. If such personnel are not available, Crew 300 in Duncan Oklahoma will serve as a communications bridge to either line managers or the Corporate Emergency Preparedness function.

Houston Office Closed Due to Hurricane Rita Threat

2008-12-17T09:35:05+01:00

The PGS Houston office will be closed for business Thursday and Friday this week as Hurricane Rita continues it?s path towards the Texas coast. Based on emergency guidelines recommended by the City of Houston it was felt that this was the thing to do so that all PGS employees could take early action as they feel necessary in order to safeguard their families and homes. The office building and PGS inventory is put into a safeguard mode to ensure minimal damage and disruption to business. Employees are requested to contact local management for further details.

PGS Awarded Big Programs in Brazil

2005-12-29T16:24:48+01:00

Petroleo Brasileiro S/A (Petrobras) has awarded Petroleum Geo-Services (PGS) more than 8,000 square kilometers of seismic data acquisition and processing offshore Brazil. The recent award includes programs that cover six Petrobras offshore blocks in the Santos, Espirito Santos and Jequitinhonha Basins, and has a contract value of the equivalent of $76 million.

Market Trends and PGS Status: Webcast with Svein Rennemo

2005-12-29T16:24:05+01:00

PGS' President and CEO Svein Rennemo spoke at the Lehman Brothers CEO Energy/Power Conference on September 7, 2005 in New York. The presentation was held at The Waldorf Astoria Hotel.

PGS to Convert 4C Crew to Streamer Vessel Operations

2005-12-29T16:24:20+01:00

September 6, 2005: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; NYSE: PGS) announced today that it has decided to convert its current 4C Ocean Bottom Crew operation, including the vessels Ocean Explorer and Falcon, to towed streamer vessels. The third vessel used in this operation, Bergen Surveyor, is on a short term lease and will be returned to its owners. The...

PGS Presents at the Pareto Securities' Oil and Offshore Conference

2005-12-29T16:24:05+01:00

Petroleum Geo-Services ASA's Chief Executive Officer, Svein Rennemo, presented at the Pareto Securities' 12th Annual Oil and Offshore Conference in Oslo on Wednesday, August 31, 2005.

PGS Announces Unaudited Second Quarter 2005 Results

2005-12-29T16:24:19+01:00

Continued strong seismic momentum

PGS Production Environmental Report Now Available

2005-12-29T16:23:56+01:00

The 2004 Environmental Statement for PGS Production is now available. This is the seventh consecutive annual environmental statement for PGS Production, and presents last year's environmental results and achievements for our four Floating Production Storage and Offloading vessels (FPSOs), two Shuttle tankers, and the onshore operations support offices.

PGS 2005 Second Quarter Results, Presentation, Webcast and Conference Call Contact Details

2005-12-29T16:24:18+01:00

A presentation has been scheduled the same day at 9:00 am (CET) at PGS' Headquarters at Lysaker, Norway. A webcast and conference call have also been scheduled that same day at 3:00 pm CET (9:00 am ET), to discuss PGS' second quarter results. The contact details for this service are detailed below. The news release concerning the 2005 second quarter financial results and a corresponding...

Record-breaking Ultra-Deepwater 4C 3D Survey Completed

2005-12-29T16:23:54+01:00

In Brazil, PGS set an new industry milestone when the FOURcE seafloor seismic crew completed a survey in the Roncador field in the Campos Basin. Water depths reached 1,860 meters, three times as deep as previously achieved.

American Explorer Upgrade

2005-12-29T16:23:55+01:00

American Explorer is now back in the sea and have just completed a challenging job for BP after an upgrade which included installing new solid streamers as well as extensive maintenance repairs.

2005 AGM Approves Share Split

2005-12-29T16:23:55+01:00

On June 8, 2005 the Annual General Meeting ("AGM") of Petroleum Geo-Services ("PGS") approved the proposal to split the shares in PGS three for one. "We hope to improve the trading liquidity of the PGS' shares, appeal to a broader base of investors and reflect a share price similar to other oil service companies," said Jens Ulltveit-Moe, chairman of PGS.

Petrojarl Foinaven: 5 Years Without LTI

2008-12-17T08:36:36+01:00

As the first vessel in PGS Production, Petrojarl Foinaven has achieved five years without a lost time incident (LTI). ?This can only be attributed to good shipboard management, and is a fantastic achievement?, says Dennis Law, VP UK Operations.

Notice of Disclosure Statement

2005-12-29T16:11:45+01:00

PGS Announces Unaudited First Quarter 2005 Results

2005-12-29T16:23:53+01:00

PGS - Classification of Pertra in Financial Statements

2005-12-29T16:23:53+01:00

MAY 23, OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today that as a consequence of a recent interpretation by the Emerging Issues Task Force, "Applying the Conditions in Paragraph 42 of FASB Statement No. 144 in Determining Whether to Report Discontinued Operations" (EITF No. 03-13), under U. S. GAAP, the Company will not classify Pertra as...

PGS 2005 First Quarter Results, Presentation, Webcast and Conference Call Contact Details

2005-12-29T16:23:52+01:00

Standard & Poor’s rates PGS “B+”

2008-12-17T08:38:33+01:00

Standard & Poor's Ratings Services (S&P) has assigned a ?B+? rating to Petroleum Geo-Services ASA (PGS). The outlook is stable.

PGS Files Annual Report on Form 20-F

2005-12-29T16:23:51+01:00

Revised HSE Policy

2005-12-29T16:23:51+01:00

PGS has recently initiated a revitalization process within HSEQ. Based on new standards in the industry, PGS has now updated its HSE policy. This revision should be seen as the first stage in a process where PGS will rebuild its HSEQ management approach and structure.

Houston: Under One Roof

2008-12-17T09:18:25+01:00

All business units in Houston have now moved into their new offices on Memorial Drive. The new office was opened by PGS Chairman Jens Ulltveit-Moe when the Board visited Houston March 30 - April 1.

Espen Klitzing, new Senior Vice President Business Development & Support

2005-12-29T16:23:50+01:00

Espen Klitzing (41) is appointed Senior Vice President Business Development and Support and will succeed Andreas Enger. Klitzing will be a member of the Group Leader Team and report to CEO Svein Rennemo.

Moody’s Assigned PGS a Ba3 Rating

2008-12-17T09:22:33+01:00

Moody?s Investors Service initiated rating coverage for Petroleum Geo-Services (PGS) with a Ba3 rating and a stable outlook for PGS?s senior unsecured notes.

PGS Board Approves Norwegian GAAP Financial Statements

2005-12-29T16:23:48+01:00

PGS Multi-Client Data in Oman Aids Award of Licensing to Reliance

2005-12-29T16:24:47+01:00

The Government of the Sultanate of Oman announced that the License Block 18, Gulf of Oman has been awarded to Reliance Industries Ltd. of India. The Licensed Block 18 formed part of the Sultanate of Oman License Round which was offered to the industry in conjunction with the PGS MC2D-GO2002 seismic survey.

PGS Production Update

2005-12-29T16:23:47+01:00

PGS Announces Redemption of USD 175 Million of Its USD 250 Million 8 % Senior Notes, Due 2006

2005-12-29T16:23:46+01:00

PGS Closes Pertra Sale With Talisman

2005-12-29T16:23:46+01:00

PGS Announces Unaudited 2004 Fourth Quarter and Preliminary Full Year Results Under Norwegian Gaap

2005-12-29T16:23:45+01:00

February 25, 2005: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE and NYSE: PGS) announced today its unaudited 2004 fourth quarter and preliminary full year results under Norwegian generally accepted accounting principles ("Norwegian GAAP"). 2004 Cash flow post investment well above previous guidance Strong multi-client late sales and improved contract sales drive...

Petroleum Geo-Services 2004 Fourth Quarter and Preliminary Year-End Results Webcast and Conference Call Contact Details

2005-12-29T16:23:45+01:00

Petroleum Geo-Services to Release 2004 Fourth Quarter and Preliminary Year-End Results on February 25

2005-12-29T16:23:45+01:00

As previously communicated, the Company's primary financial reporting is under US GAAP. However, because the previous quarters in 2004 have been reported under Norwegian GAAP, and because the "fresh-start reporting" the Company uses for US GAAP reporting was effective 1 November 2003, the Company will be releasing also the 2004 fourth quarter and preliminary year-end financial results under...

Northern Offshore Tunisia 2D Seismic Acquisition

2005-12-29T16:24:47+01:00

PGS is to start the acquisition of 2540 line km?s of 2D seismic offshore Northern Tunisia.

PGS Onshore in Canada

2005-12-29T16:24:46+01:00

PGS Onshore announces the commencement of seismic data acquisition operations in Canada. Advance field work and recording operations are in progress on two 3D programs southwest of Grande Prairie, Alberta.

PGS to Sell Pertra to Talisman

2005-12-29T16:23:44+01:00

PGS Opens New Data Processing Office In Angola

2005-12-29T16:24:46+01:00

On Wednesday, January 19th, 2005 Ambassador Arild Oeyen of the Norwegian Embassy in Luanda performed the official opening of the new PGS data processing facility in Angola.

PGS Update on Pertra Status

2005-12-29T16:23:44+01:00

Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units (FPSOs) and owns a small oil and gas...

PGS Celebrates Listing on the NYSE

2005-12-29T16:23:43+01:00

President and CEO Svein Rennemo rang the NYSE opening bell on Tuesday, January 11, 2005 celebrating the relisting of PGS on the exchange.

PGS ADS Starts Trading on the NYSE

2005-12-29T16:23:42+01:00

PGS Update on Villmink Well

2005-12-29T16:23:42+01:00

PGS Announces Listing of ADSs on the NYSE

2005-12-29T16:23:42+01:00

PGS to Host Capital Markets Day

2005-12-29T16:23:41+01:00

To allow others who cannot attend this event in person the opportunity to listen to senior management's remarks and view their slide presentations, PGS will host an archive replay webcast of the Capital Markets Day event held in New York City. The webcast replay will be made available by Monday, December 13, 2004 at the Company's web site at www. pgs. com. A copy of the slide presentation is...

Pertra Awarded Licenses in Offshore Norway APA Round

2005-12-29T16:23:41+01:00

PGS Announces Unaudited Third Quarter 2004 Results Under Norwegian Gaap

2005-12-29T16:23:40+01:00

Petroleum Geo-Services to Hold 2004 Third Quarter Results Webcast and Conference Call

2005-12-29T16:23:40+01:00

NOVEMBER 24, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced that it will release its 2004 third quarter financial results on Tuesday, November 30, 2004 at approximately 3:00 p. m. Central European Time (CET) (9:00 a. m. Eastern Time (ET)). A webcast and conference call have been scheduled that same day at 3:30 p. m. CET (9:30 a. m. ET),...

PGS - Update on the Varg Field

2005-12-29T16:23:39+01:00

As earlier reported on November 8, 2004, production from the Varg field will continue at lower rates of approximately 15, 000 barrels per day until the main production riser is replaced. Revenues for PGS' floating, production, storage and offloading vessel Petrojarl Varg, which is producing the Varg field, will also be reduced due to the lower Varg production. The Varg field is located in...

PGS Awarded Innovative Multi-Azimuth 3D Survey by BP

2005-12-29T16:24:45+01:00

November 12th, 2004; PGS Geophysical announced that BP has awarded the company a contract to conduct an innovative Multi-Azimuth 3D seismic acquisition survey in offshore Egypt.

PGS Completes 2001, 2002 and 2003 Us Gaap Financial Statements and Files Form 20-F

2005-12-29T16:23:39+01:00

NOVEMBER, 16, OSLO, NORWAY, Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2003, including audited consolidated financial statements prepared in accordance with U. S. generally accepted accounting principles ("US GAAP") for the years ended December 31, 2003, 2002 and 2001. ...

Reduced Production From the Varg Field

2005-12-29T16:23:38+01:00

PGS Completes Customised HD3D-4D Surveys for Shell

2005-12-29T16:24:45+01:00

M/V Ramform Valiant has just recently completed three customised HD3D-4D monitor surveys for Shell Exploration and Production in Europe, offshore Norway and UK. All surveys have been acquired using shot point repetition and overlap, a 4D acquisition technique endorsed by PGS.

PGS Wins Tender for Offshore Brazil HD3D Surveys

2005-12-29T16:24:44+01:00

PGS Geophysical announced that Petrobras has awarded the company contracts to conduct High Density 3D (HD3D) seismic acquisition surveys over the Albacora Leste, Roncador, Jubarte, Cachalote and Golfinho fields, offshore Brazil.

Petrojarl I and Petrojarl Varg Restarted

2005-12-29T16:23:38+01:00

74TH SEG Denver provides new optimism in the Geophysical Industry

2008-12-17T10:19:26+01:00

?The SEG this year was much more upbeat than previous years? conferences? comments Rune Eng. ?It was a busy show with encouraging signs for the future and we brought home a handful of new concrete projects leads that will make 2005 a busy year for our fleet?.

Update on Labor Conflict on the Norwegian Continental Shelf

2005-12-29T16:23:37+01:00

PGS Announces Third Quarter Earnings Release Date

2005-12-29T16:23:36+01:00

As previously disclosed, PGS expects to complete its financial statements prepared in accordance with accounting principles generally accepted in the United States ("U. S. GAAP") and to file its Annual Report on Form 20-F for the year ended December 31, 2003, around the end of October 2004. At the time of this filing PGS will provide information on the expected timing for providing its quarterly...

Petroleum Geo-Services Asa - Petrojarl Varg Strike Becomes Effective

2005-12-29T16:23:35+01:00

CGG Withdraws Offer for Petroleum Geo-Services Geophysical Business

2005-12-29T16:23:35+01:00

PGS Updates Status of Form 20-F Filing

2005-12-29T16:23:35+01:00

PGS Announces Notice of Strike Affecting Petrojarl Varg and Varg Field Production

2005-12-29T16:23:34+01:00

SEPTEMBER 17, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that it has received notice from the Norwegian Oil Workers Union ("OFS") that effective October 8, 2004, the OFS will order its members on PGS floating, production, storage and offloading vessel Petrojarl Varg to join other OFS members in the offshore strike which...

PGS Reaches Agreement on Petrojarl Varg Contract

2005-12-29T16:23:34+01:00

SEPTEMBER 16, 2004: OSLO, NORWAY- Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that it has reached an agreement in principle with the PL 038 license owners on the main terms of a new compensation structure for the FPSO Petrojarl Varg producing the Varg field on the Norwegian Continental shelf. The main terms of the revised agreement consist of a...

Lockout on PGS' Petrojarl I Becomes Effective

2005-12-29T16:23:33+01:00

Petroleum Geo-Services Presents at the Pareto Securities’ Oil and Offshore Conference

2005-12-29T16:23:28+01:00

Petroleum Geo-Services ASA’sChief Executive Officer, Svein Rennemo, presented at the Pareto Securities’ 11th Annual Oil and Offshore Conference in Oslo on Wednesday, September 1, 2004 at 4:25 p. m. Central European Time. A copy of Mr. Rennemo’s slide presentation can be downloaded here.

PGS Rejects Proposal From CGG

2005-12-29T16:23:24+01:00

SEPTEMBER 1, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that it has received a proposal from Compagnie Générale de Géophysique (CGG) for the acquisition of PGS' geophysical business (the "Proposal"). The proposed consideration is USD 900 million, of which USD 800 million is in cash and USD 100 million is in newly issued shares...

PGS' Pertra Plans to Drill New Exploration Well

2005-12-29T16:23:20+01:00

PGS Update on Pertra

2005-12-29T16:23:16+01:00

Petroleum Geo-Services Asa Announces Expected Late Sale Uplifts From Brazil License Round 6

2005-12-29T16:23:12+01:00

PGS Wins Australian SEG Conference Award

2008-12-17T10:37:12+01:00

The paper titled "An efficient explicit 3D prestack depth migration", written by J. Ren, C. Gerrard, J. McClean, and M. Orlovich, and presented by A. Long, was awarded "Best Petroleum Paper" at the Australian Society of Exploration Geophysicists (ASEG) conference, held in Sydney from August 15 - 19, 2004. Overall, 189 petroleum, minerals, environmental, and general geophysics presentations were...

Norwegian Offshore Lockout - Financial Implications for Petroleum Geo-Services Asa

2005-12-29T16:23:02+01:00

AUGUST 19, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that its floating production, storage and offloading unit (FPSO) Petrojarl I producing on the Glitne field on the Norwegian Continental Shelf (NCS) has been selected by the Norwegian Shipowners Association to be included in a general employee lockout affecting several NCS...

Organisational Changes in PGS Marine Geophysical

2005-12-29T16:22:54+01:00

AUGUST 17, 2004: OSLO, NORWAY; HOUSTON, TEXAS - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that The following changes have been made to strengthen Marine Geophysical business segment in PGS. Rune Eng (43) is appointed new President Marine Geophysical. He will report to CEO, Svein Rennemo and be part of the Group Leader Team (GLT). Rune Eng...

PGS Announces Unaudited Second Quarter 2004 Results Under Norwegian Gaap

2005-12-29T16:22:50+01:00

July 29, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today its unaudited second quarter 2004 results under Norwegian generally accepted accounting principles ("Norwegian GAAP"). Quarter ended June 30, Six months ended June 30, Year ended (In millions of...

Petroleum Geo-Services to Hold 2004 Second Quarter Results Webcast and Conference Call

2005-12-29T16:22:46+01:00

JULY 22, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced that it will release its 2004 second quarter financial results on Thursday, July 29, 2004 at approximately 3:00 p. m. Central European Time (CET) (9:00 a. m. Eastern Time (ET)). A webcast and conference call have been scheduled that same day at 3:30 p. m. CET (9:30 a. m. ET), to...

FOURcE® Crew Surpasses Two Years of Continuous Proprietary Work with Latest Survey in Campos Basin, Brazil

2005-12-29T16:11:48+01:00

With the Viola survey, the FOURcE crew has now worked continuously over the last two years acquiring proprietary surveys in the North Sea, the Gulf of Mexico and West Africa ? a feat unmatched by any other seafloor crew in the industry.

Petroleum Geo-Services Announces Second Quarter Earnings Release Date

2005-12-29T16:22:42+01:00

JULY 8, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that it has scheduled to report its 2004 second quarter financial results on Thursday, July 29, 2004 at approximately 3:00 p. m. Central European Time (CET) (9:00 a. m. Eastern Time (ET)). The Company will host a conference call and web cast at 3:30 p. m. CET (9:30 a. m. ET)...

Presentation to Annual General Meeting

2005-12-29T16:22:38+01:00

Click to view the presentation given at the Annual General Meeting, which was held on June 30th at PGS' corporate offices in Lysaker.

PGS Aquires New MC2D Survey in East Java Sea, Indonesia

2005-12-29T16:24:42+01:00

PGS in cooperation with the Indonesian Department of Energy (MIGAS) completed acquisition of a 6,359 km Multi-Client 2D seismic survey in March this year.

PGS Completes 2003 Audited Norwegian Gaap Financial Statements for 2003 With Qualified Audit Opinion

2005-12-29T16:22:34+01:00

JUNE 16, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that its Board of Directors has adopted its recommended 2003 Annual Financial Statements prepared in accordance with Norwegian generally accepted accounting principles ("Norwegian GAAP Financial Statements"). The Norwegian GAAP Financial Statements will be distributed to its...

Texas Coast

2005-12-29T16:24:42+01:00

For more information about the Offshore Texas 3D2C or Brazos surveys, please contact Sandy Beaty at +1 713-781-4000.

PGS attending EAGE in Paris

2005-12-29T16:22:15+01:00

PGS will be attending the 66th annual EAGE conference in Paris, June 7-10. PGS will be presenting 10 technical papers and posters at the conference. HD3D will be the main theme at the PGS booth.

PGS License Awards Offshore Norway

2005-12-29T16:22:29+01:00

PGS Gives Update on Varg Field

2005-12-29T16:22:27+01:00

Petroleum Geo-Services Announces Successful Completion of Senior Notes Solicitation

2005-12-29T16:22:24+01:00

JUNE 4, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) today announced that, as of 5:00 p. m., New York time, on June 3, 2004, it has received the requisite consents from holders of its 10% Senior Notes due 2010 and its 8% Senior Notes due 2006 to waivers and amendments to the indenture under which the notes were issued with respect to certain...

PGS Announces Expected Timing for Completion of Audited Norwegian Gaap Financial Statements for 2003

2005-12-29T16:22:19+01:00

JUNE 3, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that its Board of Directors is scheduled to adopt its recommended 2003 Annual Financial Statements for 2003 prepared in accordance with Norwegian generally accepted accounting principles ("Norwegian GAAP Financial Statements") on June 16, 2004. Previously, the Company had,...

PGS Opens Major New Seismic Data Processing Center in Rio de Janeiro

2005-12-29T16:24:40+01:00

Petroleum Geo-Services ASA announced May 25, 2004 that it has opened a major new Seismic Data Processing Center in Rio de Janeiro. With this center, PGS will be the only seismic contractor able to provide an in-country solution for large-scale projects.

New Head of Communication

2005-12-29T16:22:11+01:00

Petrovietnam and PGS to acquire Multi-Client 3D seismic survey

2005-12-29T16:24:39+01:00

Petrovietnam and PGS have agreed plans to acquire a Multi-Client 3D seismic survey over 2005 License Round Acreage Offshore Vietnam

New Data Processing Center in Rio

2005-12-29T16:24:39+01:00

PGS Opens Major New Seismic Data Processing Centerin Rio de Janeiro Petroleum Geo-Services ASA has opened a major new Seismic Data Processing Center in Rio de Janeiro. With this center, PGS will be the only seismic contractor able to provide an in-country solution for large-scale projects, many of which require the enhanced subsurface imaging afforded by compute intensive applications, such as...

Q1 2004 Presentation Slides

2005-12-29T16:22:03+01:00

View the presentation slides used in today's webcast.

PGS Announces Unaudited First Quarter 2004 Results Under Norwegian GAAP

2005-12-29T16:21:57+01:00

MAY 13, 2004: OSLO, NORWAY -Petroleum Geo-Services ASA (“PGS” or the “Company”) (OSE: PGS; OTC: PGEOY)announcedtoday its unaudited first quarter 2004 results under Norwegian generally accepted accounting principles (“Norwegian GAAP”). This information, including 2003 financial information, is unaudited and subject to adjustment following the completion of the Norwegian GAAP audited financial...

Reminder: Petroleum Geo-Services Announces First Quarter Results Webcast and Conference Call

2005-12-29T16:21:53+01:00

MAY 10, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) has scheduled a conference call that will be broadcast live over the Internet on Thursday, May 13, 2004 at 4:30 p. m. Central European Time (CET) / 10:30 a. m. Eastern Daylight Time (EDT), to discuss PGS' first quarter financial results. The results are scheduled to be released before the Oslo...

Praise and Appreciation from Alaska Department of Natural Resources

2005-12-29T16:21:47+01:00

PGS Onshore has been awarded a certificate of ?Partner in Development and Stewardship? by the Alaska Department of Natural Resources for contribution of equipment and logistical support to the North Slope Tundra Modeling Project.

Petrojarl Foinaven: One Million Man-Hours without an LTI

2008-12-17T10:17:05+01:00

One million man-hours without an LTI is equivalent to 11 men working from the time they leave school at 16, until they retire at 65 years of age without having had an accident.

New Aberdeen Location for PGS Data Processing

2005-12-29T16:21:36+01:00

PGS Data Processing, has a new permanent address for its local office in Aberdeen. PGS Data ProcessingAmicable House252 Union StreetAberdeenAB10 1TN Tel: +44 1224 627 790 Contact: Adrian BurkeAberdeen Processing Supervisor Link to Aberdeen city mapRead more about PGS Data Processing

Deepwater Depth Imaging Data Volumes Ready for Gulf of Mexico August 2004 Lease Sale

2005-12-29T16:21:29+01:00

PGS’ recently delivered full volume FlexR PSDM reprocessing project and PSDM grids in Garden Banks and Keathley Canyon are ready for delivery prior to the upcoming Gulf of Mexico Lease Sale. 95 Blocks Full Volume PSDM Data Our FLEXR-IV survey lies in Garden Banks and comprises 95 blocks of full volume Pre-Stack Depth Migrated data and associated 48 fold depth gathers output to 13, 000m. The...

Norwegian Tax Treatment Related to the 2003 Debt Restructuring

2005-12-29T16:21:23+01:00

As guidance for shareholders subject to Norwegian taxation, Petroleum Geo-Services ASA (hereafter "PGS ASA") has asked Advokatfirmaet PricewaterhouseCoopers DA (hereafter "PwC") to provide their opinion on how the shareholders may deal with the redemption of old shares and the issuance of new shares in relation to the debt restructuring in their Norwegian tax returns for 2003. The information on...

PGS Updates Status Regarding Implementation of Fresh Start Reporting Under U.S. GAAP

2005-12-29T16:21:20+01:00

PGS Announces Unaudited, Preliminary Results Under Norwegian GAAP for 4th Quarter and Full Year 2003

2005-12-29T16:21:11+01:00

Unaudited Preliminary Q4 and Year End Results

2005-12-29T16:11:43+01:00

Webcast - Preliminary 4th Quarter and Year End Earnings 2003

2005-12-29T16:21:05+01:00

Tuesday March 16th, PGS gave a presentation of its preliminary 4th Quarter and Year End 2003 results to analysts in Oslo. Use the links below to access the audio webcast, presentation slides and the published report. Audio webcastReport and tablesPresentation Slides

Unaudited Preliminary Q4 and Year End 2003 Results

2005-12-29T16:11:45+01:00

Q4 Presentation Slides

2005-12-29T16:21:15+01:00

View the presentation slides and supporting tables used in today's webcast.

PGS Mega Survey Data for UKCS 22nd Round

2008-12-17T10:10:14+01:00

The UK 22nd Seaward Licensing Round, billed by the DTI as the biggest oil and gas licensing round for nearly 40 years, was announced on 4th March and offers many blocks covered by the regional PGS Mega Surveys. Yellow area indicates blocks available for UKCS 22nd RoundThe PGS MC3D data library has a very close correlation to the areas on offer, especially in the Central and Southern North...

Petroleum Geo-Services Announces Press Conference and Analyst Presentation

2005-12-29T16:20:50+01:00

PGS to Hold Preliminary, Unaudited 2003 Results Conference Call and Webcast

2005-12-29T16:20:44+01:00

MARCH 10, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA expects to announce its preliminary, unaudited fourth quarter and year-end 2003 financial results at approximately 3:00 p. m. Central European Time (CET) (9:00 a. m. Eastern Time (ET)) on Tuesday, March 16, 2004, before the Oslo Stock Exchange closes and prior to trading in the United States. Following the release of the preliminary,...

PGS Arranges a $110 Million Working Capital Facility

2005-12-29T16:20:39+01:00

MARCH 4, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA announced today that it has entered into a $110 million secured working capital facility, $70 million of which can be used for general corporate purposes. The remaining $40 million will be available for issuance of letters of credit to support bid and performance bonds associated with PGS' day-to-day operations. This 2-year secured...

Offshore Texas and West Galveston Bay 3D Surveys Available for Texas State Waters Lease Sale

2005-12-29T16:20:35+01:00

Galveston Bay:click for larger image Did you know that PGS’ regional Offshore Texas 3D survey had Kirchhoff Pre-Stack Time Migrated available? The survey consists of over 330 blocks of Texas State Waters and Federal OCS Blocks from 5-meter water depth to 15 miles offshore. Producing trends along the Texas Coast have been achieved at both shallow and deep horizons. Now you can explore them...

PGS Announces Timing for Release of Preliminary, Unaudited 2003 Results

2005-12-29T16:20:31+01:00

23 February, 2004: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that it expects to release unaudited, preliminary results for the fourth quarter and full year 2003 on Tuesday, 16 March 2004. The fourth quarter and full year information will be on a Norwegian GAAP basis only. The Company also expects to release certain information...

PGS Expands Drilling Activity on the Varg Field

2005-12-29T16:20:26+01:00

PGS Completes Successful 4D Overlap Base Survey for Statoil

2005-12-29T16:24:38+01:00

Using the vessel Ramform Victory, PGS has successfully completed a customized 4D base survey for Statoil over the Albatross/Snøhvit field, offshore Norway.

Statoil Extends Expected Life of Glitne Field

2005-12-29T16:20:20+01:00

Latest FlexR Projects Ready for Gulf of Mexico March 2004 Lease Sale

2005-12-29T16:24:37+01:00

PGS? latest Flex Trend Reprocessing Projects ? FlexR-III and FlexR-V ? will be ready for review in time for the upcoming Gulf of Mexico March Lease Sale.

PGS Announces New 4D Contracts with Hydro

2005-12-29T16:24:38+01:00

PGS announced that it has been awarded a 4D acquisition and processing contract by Norwegian oil company, Hydro.

PGS Updates Basis for Implementation of Fresh Start Reporting Under U.S. GAAP

2005-12-29T16:20:15+01:00

PGS Announces Sale of Tigress

2005-12-29T16:24:37+01:00

PGS announced, January 12, 2004, that by way of a management buyout, it has successfully completed the sale of its software subsidiary, PGS Tigress (UK) Ltd.

Excellent Productivity and HSE Results in Mexico for PEMEX

2005-12-29T16:19:21+01:00

PGS Onshore is working on the Pipila 3D contract in rural Mexico

PGS Confirms Extension of Varg Field

2005-12-29T16:20:07+01:00

DECEMBER 29, 2003: OSLO, NORWAY; HOUSTON, TEXAS - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) announced today that Pertra AS, a wholly owned subsidiary of PGS, has completed appraisal well 15/12-14, confirming the western extension of the Varg field. The field is located in PL038 (Block 15/12) in the Norwegian North Sea. The well was drilled down to 3254 meters....

PGS Announces Initial Excess Cash Distribution

2005-12-29T16:20:01+01:00

Initial Excess Cash Distribution - Presentation

2005-12-29T16:25:32+01:00

PGS and CNR Amend Ramform Banff FPSO Contract

2005-12-29T16:19:54+01:00

DECEMBER 22, 2003: OSLO, NORWAY - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY) today announced that an agreement has been reached with Canadian National Resources ("CNR"), operator of the Banff and Kyle fields, that constitutes a substantial amendment to the current Services Agreement for the Banff field. CNR assumed the role of operator of the Banff field from...

PGS Appoints New President of Its Production Organization

2005-12-29T16:19:49+01:00

DECEMBER 19, 2003: OSLO, NORWAY; HOUSTON, TEXAS - Petroleum Geo-Services ASA (`PGS`) (OSE: PGS; OTC: PGEOY) announced today that Sverre Skogen is appointed President of PGS Production AS, and Senior Vice President Petroleum Geo-Services ASA, effective January 12, 2004. Sverre Skogen has 16 years of managerial experience in business and project management , and most recently held the position...

Sverre Skogen - CV

2005-12-29T16:19:35+01:00

President PGS Production AS, Senior Vice President Petroleum Geo-Services ASA

Norwegian 18th round - Norwegian Sea

2005-12-29T16:19:40+01:00

Multi-Client Data for Norwegian 18th Round

2005-12-29T16:19:28+01:00

PGS Announces Revised Timing for Distribution of Excess Cash

2005-12-29T16:19:16+01:00

The Company had previously indicated that such distribution would be made at the end of November. The Company will disclose the amount of Excess Cash as soon as the verification procedures are complete. **** Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of...

PGS Announces Management Changes in Its Production Organization

2005-12-29T16:19:10+01:00

Kaare Gisvold, Senior Vice President PGS Production, will retire in accordance with his contract on January 1, 2004. Svein Rennemo, PGS CEO said, "Edgar Alsaker has during more than 30 years contributed to building Golar Nor and PGS Production into a leading company. I thank him for his contributions and achievements." He went on to say, "As a founding father, Kaare Gisvold successfully built...

PGS Updates Report on Financial Statement Matters

2005-12-29T16:19:05+01:00

NOVEMBER 28, 2003: OSLO, NORWAY; HOUSTON, TEXAS - Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE: PGS; OTC: PGEOY), which emerged from Chapter 11 proceedings on November 5, 2003, reported that it continues to experience delays in completing an audit in accordance with U. S. generally accepted auditing standards ("GAAS") of the Company's 2002 financial statements under U. S. generally...

Pertra On Track with Production Objectives for 2003

2005-12-29T16:18:57+01:00

PGS Taps IBM to Power Deepwater Seismic Imaging

2005-12-29T16:24:36+01:00

Linux Supercomputing Cluster Combined with Deep Computing Capacity on Demand Delivers Competitive Advantage

PGS Marine Geophysical completes high technology North Sea survey

2008-12-17T10:41:53+01:00

Norwegian 18th Round - North Sea

2005-12-29T16:11:50+01:00

Lehman Bros. CEO Energy/Power Conference

2005-12-29T16:18:41+01:00

Svein Rennemo, PGS President & Chief Executive Officer, is presenting at the Lehman Brothers CEO Energy/Power Conference, New York September 4, 2003. To see the webcast of his presentation, click on the link below. >View presentation slides (pdf 1.7 MB)

New committee to address Health Safety and Environmental issues throughout the PGS group

2005-12-29T16:18:50+01:00

For the first time, PGS has established a Group HSE Committee to address Health Safety and Environmental issues throughout the PGS group. That may sound surprising, as obviously HSE has been core to our seimsic and production operations for over a decade. What is new, is that instead of HSE being a parallel function serving the organization, now it is part of the DNA of each line of our...

Lehman Bros. Presentation

2005-12-29T16:25:49+01:00

Two PGS North Sea Surveys Cover Blocks for the Norwegian 18th Round

2005-12-29T16:18:34+01:00

These two high quality surveys cover North Sea blocks nominated by two or more companies for the Norwegian 18th Round. Click on the links to see full details. Groupshoot MS97 MC2D-FAB2003 See details of PGS multiclient surveys available for Norwegian Sea blocks For more information about any of these surveys, contact: Tor Aakermoen Area Manager...

Four Norwegian Sea Multiclient Surveys for the 18th Round

2005-12-29T16:18:29+01:00

Four high quality PGS multiclient surveys cover blocks nominated by two or more companies for the Norwegian 18th Round. See more in our online data library. MC3D - WHH2002 MC3D - MGS2002 MC2D - MG2002 MC2D - OLE2003 For more information contact: Tor Aakermoen Area Manager Scandinavia Email: tor. aakermoen@pgs. com Direct phone: (47) 67 51 42 21 Work...

Pertra - One Year As Operator on the Norwegian Continental Shelf

2008-12-17T09:52:32+01:00

PGS Completes Two Large 3D Marine Seismic Surveys and Awarded Follow-on Surveys In the Bay of Campeche, Offshore Mexico

2005-12-29T16:24:35+01:00

Houston, Texas; Oslo, Norway; July 17, 2003: Petroleum Geo-Services ASA (OTC: PGOGY; OSE: PGS) announced today that it has completed two large 3D marine seismic surveys for PEMEX in the Activo Litoral and Activo Coatzacoalcos regions of the Bay of Campeche. The surveys over the Nich-Kinil and Almeja-Cisne prospects covered just under 2, 500 square kilometers. The American Explorer, rigged with...

Search

2006-06-21T10:07:49+02:00

Search

2006-06-21T10:08:43+02:00

PGS Delivers Pre-Stack Depth Migration Over Garden Banks Area

2005-12-29T16:18:17+01:00

The project covers the Llano, Cooper, Habanero, Auger, Serrano, Ozona Deep, Cardamom, Devils Island and Jason fields, as well 20 open blocks for the upcoming lease sale.

flexr4psdm1

2005-12-29T16:11:52+01:00

flexriv_map_11jul03

2005-12-29T16:25:08+01:00

flexr4psdm2

2005-12-29T16:11:52+01:00

flexr4psdm3

2005-12-29T16:11:53+01:00

PGS Completes Innovative Seismic Survey in Dutch Gas Basin for Wintershall Noordzee B.V.

2005-12-29T16:24:33+01:00

Faced with a series of technical challenges to provide better imaging of pre-salt section beneath steep-sided salt features, Wintershall Noordzee B. V. and partners contracted PGS Geophysical to use innovative multi-azimuth technology for the acquisition of 3D seismic data. The survey over Block L5b of the Dutch North Sea involved acquiring data in two orthogonal directions in order to obtain...

Petroleum Geo-Services Reaches Agreement to Extend the Maturity of Its $250 Million Credit Facility

2005-12-29T16:18:14+01:00

Sverre Strandenes, SVP Corporate Communications Dag W. Reynolds, Director European IRPhone: +47 6752 6400 Suzanne M. McLeod, U. S. IRPhone: +1 281-589-7935

PGS awarded processing of BP Norway Valhall 4C permanent monitoring data

2005-12-29T16:24:30+01:00

PGS FOURcE Returns to the North Sea

2005-12-29T16:24:29+01:00

The PGS multi-component FOURcESM seismic crew has completed work on the ExxonMobil Grand Isle 16 project in the Gulf of Mexico and will return to the North Sea for the summer season at the begining of June. The crew will start work on a 4C 3D survey in Norwegian waters, followed by further projects in the Norwegian and UK sectors of the North Sea, and is expected to remain in the region until the...

Oman License Round Extended to September 15th

2005-12-29T16:18:09+01:00

Optimal Marine 3D Seismic Acquisition with High-Density 3D (HD3D)

2008-12-17T09:56:19+01:00

Overall, the HD3D acquisition approach simply provides what we have always wanted in terms of data sampling. More advanced applications such as time-lapse (4D) reservoir monitoring will allow greater repeatability and reservoir definition between successive surveys. Certain production scale applications will benefit from a combination of HD3D spatial sampling benefits and innovative shooting...

Crew 360 Ecuador Earning Community Trust Creates Best-In-Class Performance

2005-12-29T16:17:52+01:00

At the edge of the Amazon jungle a short flight east of the cool mountain valley where the Andean capital, Quito, sits surrounded by high snow capped peaks and a smoking volcano, PGS Onshore’s Crew 360 has set production records and established itself as the best-in-class crew in jungle seismic acquisition. Crew 360 is acquiring its second 3D survey in Ecuador’s oil rich Oriente Basin for State...

Pertra Spuds Appraisal Well at Varg South

2005-12-29T16:17:43+01:00

Pertra AS, a PGS subsidiary and operator of Production License 038 (the Varg field), spudded an appraisal well on Varg South on the 22nd of April 2003. Varg South, which lies in Block 15/12, was discovered by Norsk Hydro in 2001. The depth of the oil-water contact was, however, never penetrated. The depth of the oil-water contact will determine the commercial value of the oil in Varg South. The...

ISO Certification Upgrade for Data Processing

2005-12-29T16:17:36+01:00

cnssns_mega_surveys

2005-12-29T16:25:24+01:00

PGS Completes Next Stage of World's Largest Merged Survey

2005-12-29T16:24:28+01:00

PGS Geophysical announces the completion of the latest phases of its Central and Southern North Sea Mega Surveys, see map for coverage of currently available data. These surveys have involved the collection and merging together of a large number of varying 3D datasets to form a definitive regional seismic library for this area. Altogether, some 214 input 3D surveys (owned by 34 different...

New U.S. IR Contact Information

2005-12-29T16:17:05+01:00

Effective Thursday, April 10, 2003, Petroleum Geo-Services U. S. Investor Relations has a new mailing address. Petroleum Geo-Services, Inc.738 Highway 6 SouthSuite 1000Houston, TX 77079e-mail: ir@pgs. com U. S. Investor RelationsSuzanne McLeodphone: +1-281-589-7935fax: +1-281-589-1482 For full information regarding who to contact for general investor information about Petroleum...

HD3D Concepts and Reality

2005-12-29T16:16:53+01:00

It is generally recognised by most geophysicists that the “perfect 3D” survey would have excellent azimuth sampling and excellent offset sampling along all azimuth ranges. The result would be a very expensive survey, probably with high environmental impact on land, and it would be almost impossible to achieve with marine streamer data acquisition. Since we cannot normally afford to acquire the...

New Dynamic Stock Information Pages

2008-12-17T09:48:15+01:00

We have made some changes and updates to the look and layout of the stock information for ordinary shareholders and American Depositary Receipt holders. Our goal is to provide dynamic, up-to-the-minute stock quotes, charts and historical share price information that are accurate and easy to access. Here you can find all you need to monitor and track Petroleum Geo-Services' share...

PGS Trust I Preferred Securities Symbol Change

2005-12-29T16:16:41+01:00

The Rise of the Mega Survey

2008-12-17T10:07:31+01:00

Imagine a single 3D seismic survey extending over the whole of the North Sea Central Graben crossing the UK, Norway and Danish international borders to cover more than 60, 000 sq. km. Imagine then the PGS Central North Sea Mega Survey. Created from the merging of oil company-owned and contractor non-exclusive 3D seismic data. The CNS Mega Survey forms the world's largest single 3D dataset of over...

New Blocks, Evaluation Period and Prospectivity

2005-12-29T16:14:04+01:00

The Petroleum Agency of South Africa has recently announced the availability of open acreage in the Orange Basin. From 1st August 2003, Petroleum Agency SA will evaluate Oil company applications for Exploration Leases. New Block Delineations New Block delineations have now been released – see map. These new Blocks will ensure a greater number of oil companies will have an opportunity to secure...

Deep Water Orange Basin, South Africa

2005-12-29T16:13:56+01:00

Newly delineated acreage offers valuable exploration opportunities in the deep water Orange Basin South Africa, one of the few remaining prospective open areas in West Africa. An exciting range of plays and leads are attracting strong interest from industry. With favorable License terms, there is an established local market for potential hydrocarbon discoveries. The Petroleum Agency SA has...

Symposium, Houston April 15th

2005-12-29T16:14:08+01:00

PGS and the Petroleum Agency will be holding a Deep Water Orange Basin Symposium in Houston, on 15th April 2003 at the JW Marriott Hotel on Westheimer. The Symposium will take place after the Global Deep Water Strategies Conference which is being held at the same venue. Interpretation results and implications for hydrocarbon prospectivity will be...

Geophysical Technical Review, West Africa

2005-12-29T16:14:11+01:00

Lagoon Restaurant, Lagos, Nigeria. 17th March Presidential Hotel, Port Harcourt, Nigeria. 18th March Hotel Tropico, Luanda, Angola. 20th March Change has characterized the seismic industry during the past year and much of the industry’s attention has been on restructuring and consolidation. PGS remains resolute in its desire to improve seismic technology and to keep its clients informed about...

Extended Contract for PGS FPSO Petrojarl I on the Glitne Field

2005-12-29T16:16:38+01:00

PGS announced today that Statoil, acting as operator for the Glitne license (PL 048B and PL 029B) has confirmed their plans to drill at least one new production well in the Glitne field in 2003. As a result, PGS expects that its Petrojarl I FPSO will remain on contract with the Glitne license well into 2005. In the context of this decision, certain modifications to the production contract with...

PGS Common Stock and Trust Preferred Securities Quoted on the OTC and Pink Sheets

2005-12-29T16:16:08+01:00

MARCH 3, 2003: OSLO, NORWAY PGS announced on Wednesday, February 26, 2003, that it was informed by the New York Stock Exchange ('NYSE') that the NYSE was suspending trading of PGS' American Depositary Receipts (ADRs), ticker symbol "PGO", and Trust Preferred Securities, ticker symbol "PGO PrA". The NYSE also indicated that it would commence proceedings with the U. S. Securities and Exchange...

NYSE Suspends Trading in PGS ASA and Moves to Remove PGS from the List

2005-12-29T16:16:03+01:00

FEBRUARY 26, 2003: OSLO, NORWAY - Petroleum Geo-Services ASA (`PGS`) (NYSE: PGO; OSE: PGS) announced today that it has been informed by the New York Stock Exchange (NYSE) that the American Depositary Shares of Petroleum Geo-Services ASA (the "Company") and the Petroleum Geo-Svcs AsaTrust I -- tickers symbol PGO and PGOPRA – are suspended. PGS has been in continuous dialogue with the NYSE...

PGS Reports Increased Production From The Varg Field

2005-12-29T16:15:55+01:00

FEBRUARY 21, 2003: OSLO, NORWAY - PGS announced today that its wholly-owned subsidiary Pertra AS has successfully sidetracked the A-15 well, within the Varg reservoir. The well is flowing at a rate of 12, 500 barrels of oil per day, increasing the total daily output from the field from around 11, 500 barrels per day prior to the new well, to a total daily production of approximately 25, 000...

PGS Closes Sale of its Atlantis Subsidiary to Sinochem

2005-12-29T16:15:51+01:00

FEBRUARY 20, 2003: OSLO, NORWAY - PGS announced today that it has completed the sale of its Atlantis subsidiary to China National Chemicals Import & Export Corporation (‘Sinochem’). The gross proceeds of the transaction paid at completion were approximately $55 million. Additional payments of up to $50 million will be payable by Sinochem to PGS subject to the completion and terms of certain...

PGS Reservoir Consultants Awarded 2 Year Contract by Oman PDO

2005-12-29T16:24:12+01:00

PGS Reservoir Consultants (UK) Ltd has been awarded a 2 year contract by Petroleum Development Oman (PDO) to provide Integrated Petroleum Engineering Consultancy Services. As the first project under this umbrella contract, PGS is providing a complete geoscience and reservoir engineering team based in Muscat for 18 months and will produce updated field development plans for three fields in the...

PGS Pays Bond Interest Within Grace Period

2005-12-29T16:15:43+01:00

FEBRUARY 14, 2003: OSLO, NORWAY - PGS announced today that it has paid interest on its 8.15% Senior Notes due 2029. The Company previously announced on January 14, 2003 that it would use the 30 day grace period for payment of interest due January 15, 2003 on these notes. Under the terms of the notes, no default has occurred as the interest payment was made within 30 days of the due...

PGS Pays Bond Interest Within Grace Period

2005-12-29T16:15:37+01:00

PGS announced today that it has paid interest on its 6 5/8 % Senior Notes due 2008 and its 7 1/8 % Senior Notes due 2028. The Company previously announced on December 27, 2002 that it would use the 30-day grace period for payment of interest due December 30, 2002 on these notes. Under the terms of the notes, no default has occurred as the interest payment was made within 30 days of the due...

PGS Signs Amendment To Agreement With Sinochem For The Sale Of The Atlantis Subsidiary

2005-12-29T16:15:32+01:00

PGS announced today that it has agreed terms and signed an amendment to the agreement with China National Chemicals Import & Export Corporation (‘Sinochem’), with agreed closure on or before February 20. The amendment provides waivers of all conditions precedent in the previous agreement, with the consequence that there are no further material conditions to be fulfilled prior to closure. Under...

PGS Data Processing gets Supercomputing on Demand

2005-12-29T16:24:13+01:00

PGS is the first customer to made an agreement with IBM for rental of super computing capacity on demand. This means PGS gets access to a flexible amount of computing power from IBM's POWER or Intel® processor-based supercomputer clusters. Hence, it will be easier to manage peaks in processing work and improve turnaround of projects. The IBM agreement gives PGS gets supercomputing power without...

PGS Awarded 3D Seafloor Seismic Survey in the Gulf of Mexico

2005-12-29T16:24:12+01:00

License Round Information

2005-12-29T16:25:07+01:00

The Oman 2003 License Round is open from January 15th to September 15th. The exploration acreage on offer comprises Blocks 18A, 18B & 41. Download the Exploration and Production Standard Agreement PGS Oman MC2D

Standard Petroleum Agreement

2005-12-29T16:26:58+01:00

Oman Symposia

2005-12-29T16:11:40+01:00

The Oman 2003 License Round, January 15th - July 15th, covers acreage opportunities in Blocks 18A, 18B & 41. PGS and the Ministry of Oil and Gas, Oman are hosting 3 complimentary symposia to promote the Round. Click on the links below for details and to register your attendance: - LONDON 18th February - HOUSTON 20th February - SINGAPORE 4th March

PGS Presentation to Bond Holders

2005-12-29T16:15:28+01:00

JANUARY 14: PGS has today given a presentation of the company to its bond holders.

Singapore, March 4th Orchard Hotel

2005-12-29T16:25:07+01:00

PGS and the Ministry of Oil and Gas (MOG) Oman are pleased to invite you to a complimentary symposium on Petroleum Exploration Opportunities & Potential in Oman:Panel of Speakers Ministry of Oil and Gas (MOG) Oman: Director General Oil and Gas Exploration MOG Oman: Director of Petroleum Concessions and Exploration Services PGS Geophysical AS: Mark Spencer-Jones, Lead Geologist Middle...

Houston, February 20th, Hilton Houston Westgate Towers

2005-12-29T16:25:06+01:00

PGS and the Ministry of Oil and Gas (MOG) Oman are pleased to invite you to a complimentary symposium on Petroleum Exploration Opportunities & Potential in Oman: Panel of Speakers Ministry of Oil and Gas (MOG) Oman: Director General Oil and Gas Exploration MOG Oman: Director of Petroleum Concessions and Exploration Services PGS Geophysical AS: Mark Spencer-Jones, Lead Geologist Middle...

London, 18th February, Park Lane Sheraton Piccadilly

2005-12-29T16:25:06+01:00

PGS and the Ministry of Oil and Gas (MOG) Oman are pleased to invite you to a complimentary symposium on Petroleum Exploration Opportunities & Potential in Oman: Panel of Speakers Ministry of Oil and Gas (MOG) Oman: Director General Oil and Gas Exploration MOG Oman: Director of Petroleum Concessions and Exploration Services PGS Geophysical AS: Mark Spencer-Jones, Lead Geologist Middle...

PGS Uses 30 Day Grace Period For Payments Of Interest Due January 15, 2003

2005-12-29T16:15:24+01:00

PGS has announced that it will use the 30 day grace period for payment of interest due January 15, 2003 related to the Company's 8.15 % Senior Notes due 2029.

Gulf Of Oman, Blocks 18a, 18b And 41 Licensing Round 2003

2005-12-29T16:15:19+01:00

JANUARY 13: OSLO, NORWAY - Petroleum Geo-Services ASA (`PGS`) (NYSE: PGO; OSE: PGS) announced today that PGS in cooperation with the government of the Sultanate of Oman, represented by the Ministry of Oil and Gas (MOG) are pleased to announce the Gulf of Oman, Blocks 18A, 18B and 41 License Round, 2003. This is part of an Exclusive Seismic Survey and Reprocessing agreement between PGS Geophysical...

PGS Data Processing gets Supercomputing on Demand

2005-12-29T16:13:51+01:00

PGS Data Processing, who is a pilot customer working closely with IBM, will access their new Supercomputing on Demand service. Using supercomputing grids employing their latest POWER or Intel® processor-based supercomputer clusters, IBM will assist PGS to transform fixed costs into variable costs, matching state-of-the-art capacity exactly to customer demand. The first project where PGS will...

PGS Reports Increased Production Over Ramform Banff

2005-12-29T16:15:15+01:00

JANUARY 6, 2003: OSLO, NORWAY - PGS announced today that a new production well was put on stream over the Ramform Banff FPSO in December 2002. As a result, the production volume across the vessel has increased to 20, 000 barrels of oil per day. This added volume improves the Ramform Banff revenues to the extent that a positive operational cash flow is now seen. Work continues to further improve...

PGS Uses 30 Day Grace Period For Payments Of Interest Due December 30, 2002

2005-12-29T16:15:10+01:00

DECEMBER 27, 2002: OSLO, NORWAY - Petroleum Geo-Services ASA (`PGS`) (NYSE: PGO; OSE: PGS) announced today that it will use the 30 day grace period for payment of interest due December 30, 2002 related to the Company's 6 5/8% Senior Notes due 2008 and its 7 1/8% Senior Notes due 2028. This decision has been implemented as a result of the Company’s ongoing dialogue with its banks and bondholders...

Technology Now - Noise Attenuation

2005-12-29T16:13:49+01:00

Rubbish in, rubbish out - however sophisticated your imaging algorithms, if your signal is lost under a sea of noise then no useful seismic image will be produced. One of the most complex challenges in seismic data processing is attenuating these different noise types while preserving the character of the underlying data. PGS offers a number of new noise attenuation technologies and this...

Petroleum Geo-Services Uses Option To Defer Distributions On Trust Preferred Securities

2005-12-29T16:15:03+01:00

PGS announced today that it is deferring distribution payments on the preferred securities issued by its wholly owned trust subsidiary PGS Trust I (PGO PrA), commencing with the December 31, 2002 distribution payment. Under the terms of the securities, PGS has the option to defer distributions for up to 20 consecutive quarterly periods without causing a default. **** The information included...

New Technology Now Article - Pseudo-Offset Migration

2005-12-29T16:13:48+01:00

This new technique for converted-wave (C-wave) prestack imaging and velocity analysis differs from equivalent-offset migration (EOM) in its manner of defining the migration mapping offset. POM is less dependent on the initial velocity than EOM and can produce better images and C-wave velocities than P-S DMO plus poststack migration.

PGS Board Member Steps Down

2005-12-29T16:14:58+01:00

Board member Endre Ording Sund steps down effective today.

PGS Geophysical - Technical Seminar

2005-12-29T16:13:45+01:00

Café Royal - London Tuesday 14th January 2003

Data Processing Update

2005-12-29T16:13:43+01:00

The site is now updated with the latest information on PGS Data Processing services and technologies. Follow the links below to find out more about our ISO9000 QA Certification, as well as updates on technology, KnowledgeNetTM and Cube ManagerTM

PGS Closes Sale of its Production Services Division to Petrofac Limited

2005-12-29T16:14:50+01:00

DECEMBER 11, 2002: OSLO, NORWAY -Petroleum Geo-Services ASA (“PGS”) (NYSE: PGO; OSE: PGS) announced today that it has completed the sale of its PGS Production Group Ltd (formerly Atlantic Power Group Limited) to Petrofac Limited under the October 8 2002 share sale agreement. The transaction involves total cash proceeds to PGS of approximately $25 million to be paid in December, and contingent...

PGS Geophysical Receives Royal Visit

2005-12-29T16:13:41+01:00

His Royal Highness Prince Andrew visited the PGS stand during this week's PETEX conference in London. On arriving at the stand he was greeted by Diz Mackewn, President of PGS Geophysical, and enjoyed a brief overview of the seismic industry. During the conversation, Prince Andrew expressed considerable interest in the PGS Ramform technology and the impact it has had on the efficiency of seismic...

PGS and Halliburton Sign Unique Contract on the Norwegian Continental Shelf

2008-12-17T09:49:39+01:00

Petroleum Geo-Services (PGS), through its wholly owned subsidiary Pertra AS, has entered into an agreement with Halliburton Norway for services in connection with drilling and completion of a production well in Production License 038 (Varg field) in the North Sea. The contract comprises a complete delivery of drilling and completion services. This is one of the very first contracts in the North...

PGS Data Processing Celebrates Its One-Year Anniversary in Aberdeen with Another Major Contract

2005-12-29T16:24:11+01:00

PGS Data Processing, the seismic processing division of PGS Geophysical, announced recently that their data processing center located in Aberdeen, had capped an excellent first year by securing a large 3D processing contract for Dana Petroleum. The 1300 sq km project from offshore Mauritania has been acquired ahead of schedule by the PGS vessel Ramform Victory using 10 streamers. High quality...

HSE Policy Statements and Mission

2005-12-29T16:13:40+01:00

One of the first priorities of new CEO Svein Rennemo was the signature and review of PGS policy statements and mission statement for Health Safety and Environment. These are available in the HSE section of this site. Mission Business Environment Internal Environment External Environment

Onshore Track Record

2005-12-29T16:13:38+01:00

Over the past five years PGS Onshore has accumulated a reputation for precision technology and quality work. Our services include both high-resolution reservoir characterization and reservoir monitoring with permanent installations. This work history charts the projects, the clients and the geographical scope.

PGS Appoints Svein Rennemo as New Chief Executive Officer

2005-12-29T16:13:37+01:00

Svein Rennemo - CV

2005-12-29T16:13:35+01:00

Svein Rennemo Svein Rennemo was Partner in ECON Management, a newly founded Consulting Company focusing on top management support in the areas of strategy, organisation and corporate governance. Until 1 April 2001 he served as Chief Executive Officer of Borealis, one of the world’s leading producers of polyolefin plastics, headquartered in Copenhagen. He was appointed to CEO in 1997, having...

From Prospect to Production, the PGS Company Profile

2005-12-29T16:25:04+01:00

Who are we, what do we do? PGS offers a spectrum of oilfield technology solutions along the value chain, with emphasis on safe operations, reliable solutions, durable data and hands-on experience. Click here for a presentation of the PGS Company Profile.

PGS Geophysical Technology Seminar in Houston November 12th

2005-12-29T16:13:33+01:00

PGS Geophysical Adam's Mark Hotel (2900 Briarpark Dr. at Westheimer) Tuesday, November 12, 2002 08:15 Registration 08:30 Welcome Mark Wilkinson President, PGS Exploration NSA 08:35 Improving streamer seismic through careful planning, innovative acquisition and precision processing: Two case studies Sverre Strandenes Senior Vice President -Corporate Communications,...

Technology Now - Update - New article available

2005-12-29T16:13:31+01:00

The article Multi-Component Data Application Offshore Middle East is now available in the Tehcnology Now Section.

PGS Changes Chief Financial Officer

2005-12-29T16:14:31+01:00

OSLO, Norway--(BUSINESS WIRE)--Oct. 15, 2002--Petroleum Geo-Services ASA ("PGS") (NYSE:PGO)(OSE:PGS) announced today that following the recent PGS board decision to move the Company's corporate headquarters to Oslo, the position and functions of the Company's CFO will be moved accordingly. The current CFO, Mr. Jon Christopher Boswell, will leave PGS and be replaced by Mr. Knut 0versjoen who joins...

PGS Geophysical to shoot 3D program over Genesis Field in Gulf of Mexico

2005-12-29T16:13:29+01:00

October 15, 2002: The Exploration NSA Division of PGS Geophysical has been awarded a contract from ChevronTexaco for a 3D seismic program, including an undershoot of the Genesis SPAR platform, in the Gulf of Mexico's Green Canyon Block 205. Scheduled for early October of this year, the program will acquire High Density 3D (HD3D) data for a thorough 4D evaluation process by ChevronTexaco of its...

Technology Now - Update - New article available

2005-12-29T16:13:27+01:00

The article A Data Processing Case History; Multiple Attenuation in the Gulf of Oman is now available in the Technology Now Section.

PGS Signs Share Agreement with Petrofac to Sell Production Services Division

2005-12-29T16:14:26+01:00

FOR IMMEDIATE RELEASE October 9, 2002 FOR DETAILS, CONTACT: J. Chris Boswell, SVP & CFO Phone: 281-589-7935 Sverre Strandenes, SVP Corporate Communications Dag W. Reynolds, Director European IR Phone: +47 67 52 64 00 Oslo, Norway; October 9, 2002: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today the signing of a share sale agreement with Petrofac Limited to sell PGS...

PGS Completes Library Sales in West Africa Valued at $28 million

2005-12-29T16:13:27+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Oct. 4, 2002--Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) today announced the closing of seismic multi-client transactions in West Africa with a total sales value of approximately $28 million. These transactions are related to late sales and uplift fees from the last deep water license round in Nigeria and the upcoming license round in the Joint...

PGS Announces Corporate Headquarters in Oslo

2005-12-29T16:13:26+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Sept. 27, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) today announced that its future Corporate Headquarters will be located in Oslo, Norway. This decision was made by the new PGS Board of Directors, immediately following the Extraordinary General Meeting in Oslo today. CONTACT: Petroleum Geo-Services J. Chris Boswell, 281/589-7935 or Sverre...

PGS Announces New Board of Directors

2005-12-29T16:13:25+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Sept. 27, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) today announced the election of a new Board of Directors at the Extraordinary General Meeting held at Lysaker, Norway, on September 27, 2002. The proposal for the new Board of Directors, put forward by Jens Ulltveit-Moe on behalf of Umoe Invest AS, was approved with 98.71% of the votes present...

New PGS Board of Directors Approved

2005-12-29T16:13:24+01:00

At the PGS Extraordinary General Meeting September 27 the vast majority of the shareholders voted in favour of the board proposed by Jens Ulltveit-Moe. Follow the link for details of the new Board of Directors in PGS. The last item on the agenda - a motion to authorize the company’s Board of Directors to increase the share capital - was withdrawn.

Umoe Makes Public Its Proposal for A New Board of Directors

2008-12-17T10:26:47+01:00

At the Extraordinary General Meeting on September 27th, Umoe will propose a new PGS Board of Directors. Details of the identity of the proposed new members are published in our EGM section.

ADR Holders Admission Request - Deadline Expired

2008-12-17T10:24:00+01:00

The deadline for submission of admission requests and confirmation of beneficial ownership by ADR holders wishing to attend the Extraordinary General Meeting has now expired. For full details see our EGM information page.

EGM - Authorization of Proxy

2008-12-17T09:46:32+01:00

Shareholders and ADR holders may now download Notice of Participation and Authorization of Proxy forms for this week's Extraordinary General Meeting from the EGM section.

PGS Strengthens Corporate Management

2005-12-29T16:14:17+01:00

PGS today announced further strengthening of corporate management. Effective immediately Sverre Strandenes is appointed Senior Vice President Corporate Communications. The position will report to the CEO and be a member of the PGS Executive Committee. This appointment reflects the recent announcement regarding consolidation and streamlining of the PGS corporate center. The position will have...

PGS Provides Information on Procedures for ADR Holders to Vote at Extraordinary General Meeting

2005-12-29T16:13:20+01:00

HOUSTON & OSLO, Norway, Sep 17, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that Citibank, N. A., as depositary for the Company's American Depositary Shares (ADSs), is providing information to holders of those ADSs regarding voting procedures for the extraordinary general meeting of the Company's shareholders to be held on Sept. 27, 2002. At the meeting,...

Oman Deepwater Opportunities

2005-12-29T16:13:19+01:00

Oman MC2DClosures are in the order of tens to hundred of kilometers and Tertiary reservoirs are stacked in growth-fault roll-over anticlines and collapse-crest listric fault blocks. These 6018 line-kilometers of non-exclusive 2D seismic offer invaluable insight into offshore BLOCKS 18 and 41, Gulf of Oman. The acreage is included in the 2002 Sultanate of Oman Concession Areas. For all the...

SEG Technical Sessions

2005-12-29T16:13:19+01:00

Look here for full details of PGS presentations at this year's SEG.

PGS To Call Extraordinary General Meeting of Shareholders

2005-12-29T16:13:18+01:00

PGS today announced that in response to a written request received from Umoe AS, a Norwegian investment company, the company will convene an extraordinary general meeting of shareholders. In the letter request, which was signed by Umoe's Chief Executive Officer Jens Ulltveit-Moe, Umoe indicates that it holds more than 10% of the company's shares and that, in the shareholder's opinion, it is...

PGS Consolidates Corporate Functions

2005-12-29T16:11:59+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Aug. 29, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) today announced consolidation of its corporate functions. Currently PGS operates with three corporate centers: Houston, London and Oslo. This reflects the historical development of the company over the last 10 years. As an integrated part of the ongoing company wide cost reduction program, it...

Reidar Michaelsen Announces CEO Succession Plan

2005-12-29T16:11:57+01:00

FOR IMMEDIATE RELEASEAugust 07, 2002 Reidar Michaelsen Announces CEO Succession Plan Houston Texas; Oslo, Norway; August 07, 2002: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today that Reidar Michaelsen, Chairman and CEO of Petroleum Geo-Services ASA has announced to the company's Board of Directors that he intends to step down as CEO and continue as non-executive Chairman...

Technology Now - update - Two New Articles Available

2008-12-17T09:30:34+01:00

Two new articles on acquisition and processing of 4C data are now available in the Technology Now section.

Reidar Michaelsen Announces CEO Succession Plan

2005-12-29T16:11:59+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Aug. 7, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that Reidar Michaelsen, chairman and CEO of Petroleum Geo-Services ASA, has announced to the company's board of directors that he intends to step down as CEO and continue as non-executive chairman when his successor as CEO has been appointed. This decision follows the...

PGS becomes operator of the Varg field on the Norwegian Shelf

2005-12-29T16:11:55+01:00

PGS now is operator of a producing oil field, Production License 038 in the North Sea.

PGS Receives Withdrawal Notice from Veritas DGC Board for Merger

2005-12-29T16:12:00+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--July 30, 2002--Petroleum Geo-Services ASA ("PGS") (NYSE:PGO)(OSE:PGS) announced today that it has received a written communication from Veritas DGC Inc. ("Veritas") to the effect that the board of directors of Veritas has withdrawn its approval and recommendation supporting the pending combination with PGS under the merger agreement between the two...

Veritas DGC And PGS Sign Second Amendment To Merger Agreement

2005-12-29T16:12:01+01:00

Houston, Texas and Oslo, Norway - Veritas DGC Inc. ("Veritas") (NYSE & TSE: VTS) and Petroleum Geo-Services ASA ("PGS") (NYSE: PGO, OSE: PGS) today announced that the two companies have signed an amendment to their pending merger agreement to combine the two companies. Veritas and PGS said that as a result of receiving notification from the staff of the Securities and Exchange Commission ("SEC")...

Veritas Geo-Services Selected as New Brand Name for Combined Veritas, PGS Company; New Name and Logo Effective With Completion of Combination

2005-12-29T16:12:01+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--June 26, 2002--Veritas DGC Inc. (NYSE:VTS)(TSE:VTS) and Petroleum Geo-Services ASA ("PGS") (NYSE:PGO)(OSE:PGS) today announced a new brand name and logo for the proposed combination of the companies, to become effective upon the completion of their previously announced merger. The parent company will be VGS Inc., a newly formed Cayman Islands company. This...

Veritas DGC and PGS Sign Amendment to Merger Agreement

2005-12-29T16:12:02+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--June 21, 2002--Veritas DGC Inc. (NYSE & TSE: VTS) and Petroleum Geo-Services ASA ("PGS") (NYSE: PGO, OSE: PGS) today announced that the two companies have signed an amendment to the agreement reached on November 26, 2001 to combine the two companies. The amendment provides for various changes to the November 2001 merger agreement, including the...

PGS Updates Status of the Proposed Atlantis Sale

2005-12-29T16:12:02+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 28, 2002--Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) and China National Chemical Import and Export Corporation ("Sinochem") continue to work towards a closing on their proposed transaction. Certain approvals and signatures related to several agreements within Atlantis' gas development project in the Arabian Gulf have yet to be obtained, and both...

PGS Awarded Significant Multi-Component Reservoir Characterization Survey in the Arabian Gulf

2005-12-29T16:12:03+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 24, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its Seafloor Seismic division has been awarded a significant contract to deploy its multi-component technology over two major producing offshore fields in Saudi Arabia -- the Zuluf and Abu Sa'fah fields. Terms of the award include an optional one year contract extension for...

PGS Announces New Exploration Opportunities in the Gulf of Oman

2005-12-29T16:24:54+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 24, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) in co-operation with the Government of the Sultanate of Oman, represented by the Ministry of Oil and Gas (MOG), are pleased to announce a new Multi-Client 2D seismic survey in open Blocks 18 and 41, Gulf of Oman, MC2D-GO2002. The survey is a regional 2D grid covering the entire blocks 18 and 41...

PGS Releases Seismic Data Processing Solution for Linux PC Systems

2005-12-29T16:24:54+01:00

Houston, Texas; Oslo, Norway; May 24, 2002: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today that its Data Processing division has released the latest generation of its proprietary seismic processing system, Cube ManagerTM (CM) v2.50, that will run its complete range of applications across Unix and Linux platforms. CM v2.50 is now ideally suited for large PC cluster...

PGS Geophysical Releases Seismic Data Processing Solution for Linux PC Systems

2005-12-29T16:12:03+01:00

PGS Geophysical Announces New Exploration Opportunities in the Gulf of Oman

2005-12-29T16:12:02+01:00

PGS Awarded Prospect Generation Contract By UNOCAL

2005-12-29T16:24:55+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 20, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today its Reservoir Consultants division has signed a prospect generation consulting agreement with Union Oil Company of California (Unocal). This pilot project is the result of Unocal's continuing efforts to leverage external industry experience and resources (Unocal's EnergyOpps(TM)...

PGS Reservoir Consultants Awarded Prospect Generation Contract By UNOCAL

2005-12-29T16:12:03+01:00

PGS Will Not Speculate on Reasons for Volatility in its Trust Preferred Securities

2005-12-29T16:12:04+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 17, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) stated today that it would not speculate as to the reasons for the recent volatility in the price of its Trust Preferred Securities, which trade on the New York Stock Exchange under the ticker symbol PGO PrA. Petroleum Geo-Services is a technologically focused oilfield service company...

PGS Receives Extension to $250 Million Bank Facility

2005-12-29T16:12:04+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 16, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that the maturity of its $250 million bank facility has been extended to at least June 16, 2003. Under the terms of the bank facility, PGS must make a mandatory pre-payment of $175 million from the proceeds of the sale of its Atlantis Technology subsidiary. The remaining...

PGS Sets Onshore Seismic Data Acquisition Records in Middle East

2005-12-29T16:24:55+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--April 9, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that one of its onshore crews operating in the Middle Eastern desert has set world records for the number of vibrator points (VPs) recorded in one day and in one month by a single crew. The crew's March 2002 production of 3, 340 VPs set the daily record while 92, 502 VPs...

PGS Geophysical Sets Onshore Seismic Data Acquisition Records in Middle East

2005-12-29T16:12:04+01:00

PGS Reservoir Consultants Launch a New Web Site to Promote its Energy Transaction Services

2005-12-29T16:12:05+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--April 3, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that PGS Energy Transaction Services has launched its new Web site, www. pgsets. com. PGS Energy Transaction Services provides worldwide advisory, technical and marketing services for the upstream and mid-stream energy sectors. In addition to its acquisition and divestiture...

PGS Reservoir Consultants Launch a New Web Site to Promote its Energy Transaction Services

2005-12-29T16:24:56+01:00

PGS and Veritas in Discussions to Amend Terms of Pending Combination

2005-12-29T16:12:05+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--March 28, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that they were in discussions to amend the terms of their pending combination in various respects. While no definitive amendment has been reached, the companies indicated that they expected any such amendment to include the following key terms: 1. PGS shareholders would...

PGS Completes $250 Million Short-Term Bank Facility

2005-12-29T16:12:05+01:00

HOUSTON & OSLO, Norway, Mar 14, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that the Company has completed a $250 million short-term bank facility from a group of international banks, with the net proceeds intended for (i) repayment of $225 million in senior notes due in March 2002 and (ii) general corporate purposes. This facility matures on Dec. 31,...

PGS Awarded $33 Million in New Four-Component Seismic Acquisition Contracts

2005-12-29T16:12:06+01:00

HOUSTON & OSLO, Norway, Feb 7, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its Seafloor Seismic division has secured new four-component (4C) seismic acquisition contracts valued at $33 million in offshore Nigeria, Norway's North Sea sector and the West of Shetlands area in the North Atlantic. These contracts also include the provision of seismic...

PGS Geophysical Selected to Promote Deepwater Hydrocarbon Exploration Area Offshore South Africa

2005-12-29T16:12:06+01:00

HOUSTON & OSLO, Norway, Jan 30, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) and Petroleum Agency SA announced today a joint co-operation agreement to promote deepwater exploration acreage, in an area known as the Orange Basin, situated off the West Coast of the Republic of South Africa. This area, totaling approximately 160, 000 square kilometers in extent, will be the...

PGS Geophysical Awarded Technology Alliance with BP Subsidiary

2005-12-29T16:12:07+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Jan. 30, 2002--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its Data Processing division, in close cooperation with its Research division, has secured a Geophysical Technology Alliance with BP through the Gulf of Suez Petroleum Company (GUPCO). This technology alliance is anticipated to generate projects valued at approximately...

PGS Geophysical Selected to Promote Deepwater Hydrocarbon Exploration Area Offshore South Africa

2005-12-29T16:24:56+01:00

PGS and Sinochem Enter into Definitive Agreement for the Sale of PGS' Atlantis Subsidiary

2005-12-29T16:12:08+01:00

HOUSTON & OSLO, Norway, Jan 22, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS)("PGS") and China National Chemicals Import & Export Corporation ("Sinochem") announced today that they have signed a definitive agreement for the sale of PGS' Atlantis subsidiary. The closing of the transaction, which is expected to occur in the first quarter of 2002, is subject to certain...

Petroleum Geo-Services and Veritas DGC Clear U.S. Antitrust Review

2005-12-29T16:12:08+01:00

HOUSTON & OSLO, Norway, Jan 18, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) and Veritas DGC Inc. (NYSE:VTS)(TSE:VTS) today announced that the waiting period under the U. S. Hart-Scott-Rodino Antitrust Improvements Act for their proposed combination has expired. The expiration of the Hart-Scott-Rodino waiting period satisfies one of the regulatory conditions relating to...

PGS Awarded $58 Million in New Onshore and Transition Zone Contracts

2005-12-29T16:12:09+01:00

HOUSTON & OSLO, Norway, Jan 17, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its onshore division has secured new seismic acquisition contracts in the United States, Ecuador, India and Bangladesh valued at $58 million, boosting the Company's backlog of 2002 onshore work to more than $110 million. In the United States, PGS has been selected to...

PGS Signs Agreement with Norsk Hydro on the Norwegian Continental Shelf

2005-12-29T16:12:09+01:00

HOUSTON & OSLO, Norway, Jan 8, 2002 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has entered into a purchase and sale agreement with Norsk Hydro to purchase its 42% share, as license holder, in Production License (PL) 038 on the Norwegian Continental Shelf (NCS) in the North Sea. Once consummated, the new owners of PL 038 on the NCS will be Petroleum...

PGS Geophysical Secures $33 Million in Highly Pre-funded New Multi-Client Work Offshore Brazil

2005-12-29T16:12:10+01:00

Houston, Texas; Oslo, Norway; November 30, 2001: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) today announced that it has secured approximately $33 million in highly pre-funded new multi-client seismic acquisition work totaling nearly 4, 450 square kilometers (sqkm) in the Campos and Espirito Santos basins offshore Brazil. These and other unannounced projects will provide profitable backlog...

PGS Secures $33 Million in Highly Pre-funded New Multi-Client Work Offshore Brazil

2005-12-29T16:24:56+01:00

PGS Geophysical Reports Increased Seismic Activity in West Africa

2005-12-29T16:12:10+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Nov. 27, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) has initiated several new seismic acquisition programs in West Africa on both a contractual basis and as part of the Company's multi-client operations. These surveys, combined with existing backlog, should result in one of the strongest winter seasons in several years. The recently awarded...

PGS Geophysical Reports Increased Seismic Activity in West Africa

2005-12-29T16:12:11+01:00

Houston, Texas; Oslo, Norway; November 27, 2001: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) has initiated several new seismic acquisition programs in West Africa on both a contractual basis and as part of the Company's multi-client operations. These surveys, combined with existing backlog, should result in one of the strongest winter seasons in several years. The recently awarded...

Multimedia Available: Veritas And PGS Agree to Merge

2008-12-17T13:37:27+01:00

Petroleum Geo-Services ASA ("PGS") (NYSE: PGO, OSE: PGS) and Veritas DGC Inc. (NYSE & TSE: VTS) have announced that their boards of directors have unanimously approved a definitive agreement to combine the two companies in a merger of equals. The combination will create the second largest company in the geophysical services industry with an equity market capitalization of approximately $1.0...

PGS Reports Increased Seismic Activity in West Africa

2005-12-29T16:24:57+01:00

ADVISORY/Veritas and PGS Agree to Merge

2005-12-29T16:12:12+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Nov. 26, 2001--Petroleum Geo-Services ASA ("PGS") (NYSE:PGO)(OSE:PGS) and Veritas DGC Inc. (NYSE:VTS)(TSE:VTS) today announced that their boards of directors have unanimously approved a definitive agreement to combine the two companies in a merger of equals. The combination will create the second largest company in the geophysical services industry with an...

PGS Geophysical Renames Business Unit Focused on Seafloor Seismic Acquisition

2005-12-29T16:12:12+01:00

Houston, Texas; Oslo, Norway; November 12, 2001: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) renames the division focused on the provision of seafloor seismic acquisition services and data to Seafloor Seismic. Previously known in the industry as PGS Reservoir Services, the Seafloor Seismic division remains within the PGS Geophysical business segment. PGS' Seafloor Seismic division provides...

PGS Renames Business Unit Focused on Seafloor Seismic Acquisition

2005-12-29T16:24:57+01:00

PGS to Seek Approval as License Holder and Operator on the Norwegian Continental Shelf

2005-12-29T16:24:58+01:00

Houston, Texas; Oslo, Norway; November 1, 2001: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today its initiative to seek governmental approval to become a qualified license holder and operator on the Norwegian Continental Shelf (NCS). PGS currently delivers exploration, production, and reservoir services to the oil industry and is a significant service provider on the NCS....

PGS to Seek Approval as License Holder and Operator on the Norwegian Continental Shelf

2005-12-29T16:12:13+01:00

PGS Achieves Record Revenue with Strong Geophysical Growth

2005-12-29T16:12:13+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Oct. 24, 2001--Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) Financial HighlightsThird quarter diluted earnings per share (before unusual items) is $0.16, compared to $0.17 for the 2000 third quarter and $0.10 for the 2001 second quarterDiluted earnings per share (before unusual items) is $0.38 for the nine months ended September 30, 2001, compared to...

PGS Enters Final Stages of Negotiation for the Sale of Atlantis

2005-12-29T16:12:13+01:00

HOUSTON & OSLO, Norway, Oct 19, 2001 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has now moved into to the final stages of negotiation with China National Chemicals Import and Export Corporation ("Sinochem"), to sell its Atlantis subsidiary. In the second quarter of 2001, PGS received a non-binding offer from Sinochem to purchase all of the shares of...

PGS Director Resigns

2005-12-29T16:12:14+01:00

HOUSTON & OSLO, Norway, Sep 27, 2001 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced that John R. Milligan with reference to our press release of September 20, 2001 has notified the company that he has resigned as Director of Petroleum Geo-Services ASA effective as per September 26, 2001. Petroleum Geo-Services is a technologically focused oilfield service company...

PGS Announces Record Production From Petrojarl Foinaven FPSO

2005-12-29T16:12:14+01:00

HOUSTON & OSLO, Norway, Sep 26, 2001 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has achieved a new milestone in terms of daily production from the "Petrojarl Foinaven" FPSO operating on behalf of British Petroleum in the Atlantic Margin of the North Sea. The FPSO recently produced 132, 000 barrels of oil in a single day, which is a new record for the...

PGS Clarification Regarding Director Stock Sale

2005-12-29T16:12:14+01:00

HOUSTON & OSLO, Norway, Sep 20, 2001 (BUSINESS WIRE) -- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) Reidar Michaelsen stated, "The company became aware today that one of its non-employee directors sold a block of 450, 000 shares in PGS stock on 12 September 2001. This sale was not made known to the company before today. The director in question continues to hold 471, 179 shares. The sale of...

PGS Unaware of Company Specific Issues Related to Recent Stock Price Deterioration; Atlantis Sale Remains on Track

2005-12-29T16:12:15+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Sept. 19, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it remains confident in its previous market communication regarding the sale of non-core assets, including the sale of its subsidiary Atlantis. PGS' stock price has deteriorated significantly in today's trading. The Company believes that this deterioration is related to a...

PGS Data Processing Opens Aberdeen Office

2005-12-29T16:12:15+01:00

Houston, Texas; Oslo, Norway; September 18, 2001: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today that its Seismic Data Processing division of PGS Geophysical recently opened a new Seismic Data Processing facility in Aberdeen, Scotland. The Seismic Data Processing center, located in the existing PGS office complex, will contain an advanced data processing system capable of...

PGS Data Processing Opens Aberdeen Office

2005-12-29T16:24:58+01:00

Houston, Texas; Oslo, Norway; September 18, 2001: (NYSE: PGO; OSE: PGS) PGS announced today that its Seismic Data Processing division recently opened a new Seismic Data Processing facility in Aberdeen, Scotland. Full Data Processing Capabilities The Seismic Data Processing center, located in the existing PGS office complex, will contain an advanced data processing system capable of providing...

PGS Geophysical Successfully Completes Industry's Largest Single Source High Density 3D Seismic Survey Deploying a Record 16 Streamer Configuration

2005-12-29T16:12:16+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Sept. 10, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the successful completion of the industry's largest single source, High Density 3D (HD3D(TM)) seismic survey deploying a record breaking 16 streamer configuration by the Ramform Victory. Petroleum Geo-Services' Ramform Victory, deploying a spread of 16 streamers, each 4, 500...

PGS Geophysical Signs New Computing Capacity Agreement with IBM for its Data Processing Division

2005-12-29T16:12:15+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Sept. 10, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today a new agreement with IBM that will double its current data processing capability with more than One Teraflop of additional high performance capacity. This agreement, formulated through close cooperation between PGS and the IBM Strategic Alliance Office Team, will last through...

PGS FPSO Petrojarl I Starts Production on the Glitne Field

2005-12-29T16:12:16+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Aug. 28, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that the "Petrojarl I" FPSO has commenced oil production from the Glitne field, operated by Statoil, in the Norwegian sector of the North Sea. The "Petrojarl I" production on the Glitne field is expected to last for approximately 30 months, with an initial peak production of...

PGS To Acquire Diamond Geophysical Service Corporation

2005-12-29T16:12:16+01:00

HOUSTON, Texas & OSLO, Norway--(BUSINESS WIRE)--August 1, 2001-- Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) announced today the acquisition of Diamond Geophysical Service Corporation (Diamond). Diamond specializes in designing, acquiring, processing and marketing 3-D multi-client seismic surveys in areas with complex imaging problems, and has exclusively represented and technically marketed...

PGS Data Processing Enters Kazakhstan Market

2005-12-29T16:12:17+01:00

Houston, Texas; Oslo, Norway; July 11, 2001: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today a significant breakthrough in data processing operations in Kazakhstan with the opening of its high technology Data Processing Center. The seismic Data Processing division of PGS Geophysical Services has entered into a Joint Activity Agreement to establish a high technology, seismic Data...

PGS Announces Availability of Prime Exploration Data in Western Gulf of Mexico

2005-12-29T16:12:17+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 30, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the availability of 210 blocks of 3D pre-stack depth migrated (PSDM) data from the Keathley Canyon Phase 10 survey with coverage of the Western Gap area of the Western Gulf of Mexico. The PGS Keathley Canyon surveys, including the Western Gap coverage, are available to the oil and...

PGS Announces Breakthroughs in Streamer Technology

2005-12-29T16:12:17+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 30, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today significant breakthroughs in commercialization of its single source streamer technology and record breaking deployment of streamers. With its focus on developing the high-end single source streamer market, PGS has been awarded a significant contract streamer survey to shoot...

PGS Reservoir Consultant's New Energy Transaction Business Unit Successfully Manages Sale of Producing Properties

2005-12-29T16:12:18+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 23, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its Energy Transaction Business Unit, a new unit within its subsidiary, PGS Reservoir Consultants, has served as a transaction consultant in the successful sale of an international-based multi-national oil company's interest in nine producing fields in the Gulf of...

PGS and Syntroleum Pursue Partnership to Provide Floating GTL Services

2005-12-29T16:12:18+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--May 9, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) and Syntroleum Corporation (Nasdaq:SYNM) announced today that they have signed a letter of intent to pursue a joint venture to develop, market and operate mobile marine production facilities, based on Syntroleum's proprietary gas-to-liquids (GTL) technology. The planned joint venture would offer...

PGS Selected to Promote License Round in West Africa

2005-12-29T16:12:18+01:00

PGS has entered into an exclusive agreement with the Government of Sao Tome and Principe to assist them in promoting their offshore acreage in future license rounds. PGS will acquire and market high quality 3D seismic data ahead of future Sao Tome license rounds. The company will also assist the Government of Sao Tome and Principe with marketing the exploration opportunities and prospectivity of...

PGS Appoints Diz Mackewn to Lead Reorganized Geophysical Group

2005-12-29T16:12:19+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--April 25, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that after ten years of operating its geophysical business under several management teams focused on regional markets and a variety of different geophysical technologies and services, the entire geophysical management group will be combined under one cohesive management team led...

PGS Completes Asset Securitization

2005-12-29T16:12:19+01:00

HOUSTON--(BUSINESS WIRE)--April 25, 2001--Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) announced today that it has now finalized a securitization program related to its multi-client 3D (MC3D) data library. Under this program, the Company will transfer the ownership of a portion of its MC3D data library to a 100% owned subsidiary that, in turn, will issue cumulative preferred stock to a third...

PGS Resumes Production On Banff Field

2005-12-29T16:12:19+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--March 29, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that the re-tooled "Ramform Banff" production ship has resumed oil production on the Banff field in the U. K. sector of the North Sea. The vessel was removed from the field in late September 2000 in order to undergo a comprehensive modification program designed to significantly...

Petroleum Geo-Services Closes Sale of Data Management Unit to Landmark Graphics

2005-12-29T16:12:19+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--March 12, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has completed the sale of its global Petrobank Data Management business and related software to Landmark Graphics Corporation under the Dec. 29, 2000 purchase and sale agreement with Halliburton and Landmark Graphics. The final purchase price will be adjusted to reflect...

PGS Announces Management Resignation

2005-12-29T16:12:20+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Feb. 7, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the resignation of its President and Chief Operating Officer, Bjarte Bruheim. Reidar Michaelsen, Petroleum Geo-Services' Chairman and Chief Executive Officer, said, "We remain committed to our strategy and we are determined to increase our focus on operational and financial...

PGS Signs Definitive Agreement with Halliburton to Sell Data Management Business

2005-12-29T16:12:20+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Jan. 2, 2001--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has signed a definitive agreement with Halliburton and Landmark Graphics to sell its global Petrobank Data Management business and related software for gross proceeds of $179 million. In addition, PGS will enter into a strategic data management and distribution alliance...

PGS Provides Update on Ramform Banff Upgrade

2005-12-29T16:12:21+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Dec. 21, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that the upgrade on the "Ramform Banff" is now substantially complete. The "Ramform Banff" is expected to depart the shipyard before mid-January 2001 and be ready for production by the end of January 2001. The three to four week delay is primarily related to the need to prepare...

PGS Closes Sale of Spinnaker Shares

2005-12-29T16:12:21+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Dec. 20, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has closed its offering of 5, 388, 743 shares of Spinnaker Exploration Company (NYSE:SKE) at $29.25 per share. The sale of these securities resulted in net proceeds to PGS of approximately $150 million. These shares represented all of PGS' equity interest in Spinnaker...

PGS Enters Into Agreement to Sell Spinnaker Shares

2005-12-29T16:12:22+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Dec. 14, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has priced its offering of 4, 700, 000 shares of Spinnaker Exploration Company (NYSE:SKE) at $29.25 per share. The sale of these securities by PGS, as a selling stockholder, is expected to close on December 20, 2000 and will result in net proceeds to PGS of approximately...

Petroleum Geo-Services Awarded CDA Data Repository Services Contract

2005-12-29T16:12:23+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Nov. 29, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) was approved by the Common Data Access Limited ("CDA"), a non-profit, industry regulated, information company owned by a consortium of UK-based exploration and production companies, as the preferred bidder for the CDA Data Repository services. The Data Repository tender is subject to contract...

Petroleum Geo-Services Announces Its Intention to Register Spinnaker Shares

2005-12-29T16:12:24+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Oct. 25, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has exercised its right to request Spinnaker Exploration Company (SKE) to file with the Securities and Exchange Commission a shelf registration statement covering the distribution of its 5, 388, 743 common shares in Spinnaker. Reidar Michaelsen, PGS' chairman and...

Ramform Banff to Remain in North Sea After Upgrade to Reduce Roll

2005-12-29T16:12:24+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--Sept. 5, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that after several weeks of discussions with the U. K. Health and Safety Executive ("HSE") and the Banff oil field partners, the Company has now received approval from both parties to proceed with a vessel improvement plan which will significantly reduce the roll motions of the...

PGS is Awarded 10,000 sqkm Exclusive MC3D Contract in Deepwater Brunei

2005-12-29T16:12:25+01:00

PGS announced today that it has been awarded a 10, 000 square kilometer exclusive MC3D contract in deepwater E. E. Z. in Brunei Darussalam. The multi-client 3D ("MC3D") is part of the deepwater licensing round that the Petroleum Unit of the Prime Ministers Department in Brunei Darussalam will announce on October 9th, 2000. The closing date for the bid round will be November 1st, 2001. The survey...

PGS Provides Update on DSND Court Case

2005-12-29T16:12:25+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--July 31, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) has prepared the following update in order to address certain issues raised in recent press articles regarding the Company's ongoing dispute with DSND Sondenfjeldske ASA ("DSND"). The Company has been invoiced certain costs related to the subsea and riser installation work on the "Ramform Banff"...

PGS Reorganizes Production Business -- Appoints Kaare Gisvold to Lead New Group

2005-12-29T16:12:26+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--July 10, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that after more than two years of operating its production business under several management teams focused on similar but slightly different markets, the entire production management group will be brought together under one cohesive management team led by Kaare Gisvold. As...

PGS Awarded One of the Largest Ever Reservoir Characterization Contracts

2005-12-29T16:12:25+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--July 10, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has recently been awarded a significant contract to deploy its leading-edge reservoir characterization technology on one of the world's largest offshore oilfields, the Zakum field offshore Abu Dhabi, United Arab Emirates. The survey is expected to start in...

PGS Establishes Exploration and Production Data Bank for Brazil

2005-12-29T16:12:26+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--July 7, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) through its affiliate, PGS do Brasil, has signed a five-year contract with the country's Geological Survey ("CPRM") to establish the Brazilian Petroleum Agency ("ANP") exploration and production data bank for Brazil. The data bank will be named Banco de Dados E&P ("BDEP") and will further...

PGS Deploys Record Streamer Spread for MC3D Marine Seismic Survey in Deepwater Mid-Norway

2005-12-29T16:12:27+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 29, 2000-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the recent closing of a major multi-client 3D ("MC3D") marine seismic survey agreement over the Western part of the Donna Terrace in deepwater mid-Norway. Petroleum Geo-Services will use one of its industry leading "Ramform" seismic vessels, "Ramform Valiant, " towing a...

PGS Announces New FPSO Contract

2005-12-29T16:12:27+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 28, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has entered into a letter of intent with Statoil to produce the Glitne field in the Norwegian sector of the North Sea. This letter of intent is subject only to final documentation and a government approval of the field development plan. PGS will produce this field...

First Oil on Kyle: PGS FPSO `Petrojarl I' Demobilized and Redeployed in 20 Days

2005-12-29T16:12:27+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--May 26, 2000--Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) announced today that it has successfully demobilized the PGS "Petrojarl I" FPSO from the Blenheim/Bladon field, operated by Talisman. After a brief dry-docking, the vessel has been moved to the Kyle field under an early production contract for Ranger Oil. PGS achieved first oil on May 24, 2000...

PGS to Develop National Geophysical/Geological Data Bank for Russia

2005-12-29T16:12:28+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--May 17, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its subsidiary, PGS Data Management AS, has entered into an agreement to develop and implement a National Geophysical and Geological Data Bank (NBDGI) for Russia. The agreement partners are PGS, GlavNIVC of the Ministry of Natural Resources (MNR), and The Central...

PGS Promotes Erik Hokholt to Director of Financial Planning and European Investor Relations

2005-12-29T16:12:28+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--March 21, PGS announced today that it has recently promoted Erik Hokholt to Director of Financial Planning and European Investor Relations to augment our shareholder communications and strategic financial planning activities. Erik will be based in our Oslo corporate office (telephone +47 67 52 66 00) commencing July 2000. Erik joined PGS in 1991, as...

Petroleum Geo-Services Prices $225 Million Floating Rate Senior Notes

2005-12-29T16:12:28+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--March 14, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it priced an offering of $225 million of floating rate senior notes due 2002. Proceeds from the offering will be used to repay bank debt. The notes will be callable at par after one year, will be issued at a price of 99.90% and will have a floating interest rate equal...

Petroleum Geo-Services Is Awarded Largest Seafloor Multi-Component Contract in Seismic Industry

2005-12-29T16:12:29+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 24, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it successfully demonstrated, in direct competition with Schlumberger, the success of its proprietary seafloor multi-component seismic acquisition system. After various field tests, PGS was awarded the largest multi-component seismic contract in the seismic industry to...

PGS is Awarded One of the Largest Land Seismic Contracts

2005-12-29T16:12:29+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 2, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has recently been awarded one of the largest land seismic contracts in the industry. This contract was awarded to the Company by Saudi Aramco for a large 3D seismic program in Saudi Arabia. The job is expected to start in the summer of 2000 and will continue for three...

PGS Employs Richard Degner, Formerly With Western Geophysical, To Develop Onshore Business

2005-12-29T16:12:29+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Jan. 14, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has recently employed Richard Degner, as president, to develop its Onshore seismic business. Degner was formerly in charge of the largest land seismic operations in the industry while employed by Western Geophysical. He has worked closely in recent years with numerous...

PGS Announces Extended Well Test on Kyle Field

2005-12-29T16:12:30+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Jan. 11, 2000--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has entered into an agreement, subject to regulatory approvals, with Ranger Oil (U. K.) Limited to perform an Extended Well Test ("EWT") for the continuing appraisal of the Kyle field in the North Sea. The EWT will be performed by PGS' floating production, storage and...

PGS Launches Funded 3D Multi-Client Seismic Surveys in Campos and Santos Areas Offshore Brazil

2005-12-29T16:12:30+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Oct. 20, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) through its affiliate, PGS do Brasil, announced today that it has begun acquisition on the first phase of its permitted 3D multi-client seismic survey within the Campos Basin, offshore Brazil, and will begin the first phase of a newly-permitted survey in the Santos Basin this month. More...

Petroleum Geo-Services Announces Completion of North Sea Advanced Data Acquisition Projects for BP Amoco

2005-12-29T16:12:31+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Sept. 29, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced the completion of two significant high-technology seismic surveys in the North Sea. The PGS seismic vessel Ramform Vanguard completed a 375 sqkm 4D (or `time lapse') streamer survey over BP Amoco's Schiehallion, Loyal and Foinaven fields located...

Conoco's `Ramform Banff' Produces 5 Million Barrels of Oil

2005-12-29T16:12:31+01:00

ABERDEEN, Scotland--(BUSINESS WIRE)--Sept. 13, 1999--Conoco (NYSE:COC) and PGS Atlantic Power announced that the Banff field, in the U. K. sector of the North Sea, has produced 5 million barrels of crude oil under the project's Phase II, which began eight months ago. The field, which is located 200 kilometers (125 miles) east of Aberdeen, is producing more than 50, 000 barrels of oil and 30...

Petroleum Geo-Services ASA Prices 10 Million ADSs and Shares

2005-12-29T16:12:31+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--July 29, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it priced an offering of an aggregate of 10, 000, 000 American Depositary Shares and shares, nominal value NOK 5 per share, at a price of $19 15/16 per share. The shares will be sold either in the form of ADSs or shares. American Depositary Receipts will evidence the...

Petroleum Geo-Services Closes `Varg' Transaction and Prices $200 Million Senior Unsecured Notes

2005-12-29T16:12:32+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--July 22, 1999--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it completed the previously announced acquisition of the floating production, storage and offloading (FPSO) vessel, "Varg." It also announced that it priced a $200 million offering of senior unsecured notes. The Company's $200 million Senior Unsecured Notes, due 2029, will...

PGS Announces Proposed Public Offering of ADSs and Shares and Senior Notes

2005-12-29T16:12:32+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--July 20, 1999--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it intends to offer an aggregate of 10, 000, 000 American Depositary Shares and shares and $200 million of senior notes. American Depositary Receipts will evidence the ADSs, and each ADS represents one share. Proceeds from the offerings will be used to repay bank debt,...

PGS Wins the Varg Floating Production Contract

2005-12-29T16:12:32+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--July 9, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has successfully negotiated an agreement with Saga Petroleum, acting on behalf of the Varg license owners (Saga-35% and Statoil-65%), to purchase the newly constructed FPSO Varg for USD 350 million. Simultaneously, PGS has entered into a minimum three-year contract...

PGS Announces Award of Two Seismic Contracts

2005-12-29T16:12:33+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 23, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the recent award of two seismic contracts, one in deepwater West Africa and the other in deepwater Gulf of Mexico. In deepwater offshore Angola, West Africa, the "Ramform Valiant, " towing 12 streamers will begin a 5, 000-sqkm 3D seismic survey for a major oil company in...

Petroleum Geo-Services Completes Offering of $144 Million Trust Preferred Securities

2005-12-29T16:12:33+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 22, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that a special purpose subsidiary PGS Trust I has completed the sale of 5, 750, 000 shares of Trust Preferred Securities. The proceeds to PGS from the offering were approximately $144 million (approximately $139 million after deducting offering expenses). These securities,...

Petroleum Geo-Services Awarded Industry’s Largest 3D Marine Seismic Survey

2005-12-29T16:24:59+01:00

Houston, Texas; Oslo, Norway; May 3, 1999: Petroleum Geo-Services ASA (NYSE: PGO; OSE: PGS) announced today that it has been awarded the largest 3D marine seismic survey in the industry valued at over U. S. $30 million. This contract for Petroleo Brasileiro SA (? PETROBRAS? ), which is expected to take approximately 8-10 months to complete, will be acquired with the Ramform Explorer in a 10...

Petroleum Geo-Services Awarded Industry’s Largest 3D Marine Seismic Survey

2005-12-29T16:12:33+01:00

PGS Announces Award of Seismic Contracts and Commencement of Multi-Client Programs

2005-12-29T16:12:34+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--April 20, 1999--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the recent award of several 3D seismic contracts, and the commencement of several high-potential multi-client programs. In deepwater offshore Angola, West Africa, the "Ramform Valiant, " towing 12 streamers, each 4, 800m long, has begun a contract survey for a major...

Petroleum Geo-Services Christens Number Six

2005-12-29T16:12:34+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--April 19, 1999-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it recently took delivery of its sixth "Ramform" vessel, the "Ramform Vanguard, " giving PGS the majority of the industry's high-capacity, high-technology marine seismic equipment. This vessel was christened on April 8, 1999 in Bergen, Norway, and it is now acquiring 3D...

Petroleum Geo-Services Clarifies `Ramform Banff' Project Status

2005-12-29T16:12:34+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 5, 1999-- Petroleum Geo-Services ASA (NYSE:PGO) (OSE:PGS) clarifies today's article published in a European oil and gas journal, "Upstream News." PGS wishes to express that the Company is quite satisfied with the performance of the "Ramform Banff" FPSO. With respect to delay penalties, PGS is fully aware of such penalties associated with...

PGS Announces Commencement of Oil Production From `Ramform Banff'

2005-12-29T16:12:35+01:00

The "Ramform Banff" is contracted by Conoco for the life of the field under a tariff-based compensation plan that allows Conoco, its Banff partners, and PGS to maximize additional oil development potential that exists in the area. Under these terms, production from Ranger Oil's nearby Kyle field will be added to the "Ramform Banff" later in the year. This field is estimated to have between 30 and...

Petroleum Geo-Services Prices $250 Million Senior Unsecured Notes

2005-12-29T16:12:35+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Nov. 13, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced that it priced a Rule 144A offering of senior unsecured notes totaling $250 million. The Company's $250 million Senior Unsecured Notes, due 2003, will have a coupon rate of 6.25% and were priced at 99.56% to yield 6.354%. This transaction is expected to close on Nov. 19, 1998....

PGS Acquires PetroBank Solutions Family from IBM

2005-12-29T16:24:59+01:00

Houston, Texas; Oslo, Norway; October 26, 1998: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) and IBM Corporation announced today that they have finalized the agreement regarding the acquisition of the entire PetroBank Product Family by PGS. The PetroBank Family is a comprehensive suite of products designed to provide highly secure data management solutions for cross-functional Exploration and...

PGS Acquires PetroBank Solutions Family from IBM

2005-12-29T16:12:35+01:00

PGS Exploration Has Not Applied for the Award of Blocks

2005-12-29T16:12:36+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Sept. 11, 1998--PGS Exploration AS refers to an article in Dagens Naeringsliv 11th September and Stavanger Aftenblad 10th September, which incorrectly gives the impression that PGS wishes to be awarded blocks in the North Sea. In connection with the on-going process for the nomination of blocks in the North Sea, PGS Exploration would like to clarify...

PGS Arranges A $430 Million Revolving Credit Facility

2005-12-29T16:12:36+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Sept. 4, 1998--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has entered into a $430 million Revolving Credit Facility with a syndicate of international banks led by Chase Manhattan International Limited, as agent. Chase Manhattan plc in London arranged the facility. Co-arrangers were Christiania Bank og Kreditkasse, Den Danske...

Petroleum Geo-Services ASA Completes Acquisition of Atlantic Power Group Limited

2005-12-29T16:12:37+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Aug. 31, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it had completed the previously announced acquisition of Atlantic Power Group Limited. The consideration for the transaction consisted of 3, 248, 309 PGS shares to the former shareholders and option holders of Atlantic Power. Atlantic Power provides management...

Ramform Banff FPSO Sets New Industry Standard For North Sea On-Time Delivery

2005-12-29T16:12:37+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Aug. 31, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it had completed the construction and onshore commissioning phase of the floating production, storage and offloading (FPSO) vessel "Ramform Banff." The vessel was christened in Newcastle, England this afternoon and will sail to the Conoco Banff field to begin mooring...

Petroleum Geo-Services ASA Completes Acadian Geophysical Services Inc. Acquisition

2005-12-29T16:12:37+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--July 21, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it had completed the acquisition of Acadian Geophysical Services Inc. The consideration for the transaction consisted of approximately 1.1 million shares to the former shareholders of Acadian. Acadian provides 3D seismic coverage in transition zone areas along the...

Petroleum Geo-Services Delivers Garden Banks Data For Western Gulf Lease Sale

2005-12-29T16:24:59+01:00

Houston, Texas; Oslo, Norway; July 1, 1998: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today the availability of a new, multi-client 3D geophysical survey in anticipation of the Western Gulf of Mexico Lease Sale 171 scheduled to be held on August 26, 1998. The survey covers 193 blocks in the Garden Banks area and is being made available 114 days after last shot. The total package...

PGS Delivers Garden Banks Data For Western Gulf Lease Sale

2005-12-29T16:12:38+01:00

The total package being released to the industry includes not only the migrated seismic data, but also PGS' integrated suite of Emc3D* products, including: 2-level Aeromagnetic data (raw and processed) Gravity data (raw and processed) Multi-beam bathymetry data for geohazard studies Quick Interpretation on a regional scale, including top and base salt model Velocity surveys Data delivery in...

PGS Shareholders Approved 2-for-1 Stock Split

2005-12-29T16:12:38+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 23, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced that at the Annual General Meeting held in Lysaker, Norway today, the shareholders of the Company approved a two-for-one stock split. Shareholders of record as of June 23, 1998 will receive on June 24, 1998 one new share for each existing share owned. A corresponding split of the...

PGS and Atlantic Power Announce Merger Agreement

2005-12-29T16:12:40+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 22, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that its Board of Directors has approved an agreement to merge with United Kingdom-based Atlantic Power Group (Atlantic Power), subject to final documentation. The Board of Atlantic Power has also approved the agreement. Atlantic Power, a production management and floating...

Petroleum Geo-Services and Acadian Geophysical Services, Inc. Agree To Merge

2005-12-29T16:12:40+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 22, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that it has signed a definitive agreement to acquire Louisiana-based Acadian Geophysical Services, Inc. (Acadian). Acadian is a leading provider of 3D seismic acquisition services in transition zone areas along the Louisiana and Texas coast. The Company has a total of...

PGS To Produce Ranger's Kyle Field

2005-12-29T16:12:40+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 9, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has been awarded a contract by Ranger Oil (UK) Ltd. on behalf of the Kyle group which includes Premier Oil, Candecca Resources, Bow Valley Petroleum and Croft Oil & Gas, to produce the oil reserves of the Kyle field located 12 kilometers from Conoco's Banff field in the...

William S. French Retires From PGS, Remains As Consultant

2005-12-29T16:12:41+01:00

Houston, Texas; Oslo, Norway; June 9, 1998: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) regretfully announces that that Dr. William S. French has retired from his position as Senior Executive Vice President of Petroleum Geo-Services, Inc., effective July 31, 1998. PGS is pleased to announce, however, that Dr. French has agreed to act as a consultant to PGS for a minimum of three (3) years...

Petroleum Geo-Services Proposes 2-for-1 Stock Split

2005-12-29T16:12:41+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--May 19, 1998--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its Board of Directors has proposed a two-for-one stock split, subject to shareholder approval which is required by Norwegian law. The split will be voted upon by the shareholders at the Company's Annual General Meeting on June 23, 1998. If the split is approved,...

PGS Completes Awilco FPSO Acquisition

2005-12-29T16:12:41+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--May 19, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today the completion of its acquisition of the floating production, storage and offloading ("FPSO") operations of Awilco ASA. The acquisition was completed by the merger of Awilco Floating Production AS with and into PGS, with PGS being the acquiring and surviving corporation....

PGS Prices $650 Million Senior Unsecured Notes

2005-12-29T16:12:42+01:00

HOUSTON & OSLO, Norway--(BUSINESS WIRE)--March 31, 1998-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it priced an offering of two series of senior unsecured notes totaling $650 million. The Company's $450 million Senior Unsecured Notes, due 2028, will have a coupon rate of 7 1/8% and were priced at 99.71% to yield 7.15%. The Company's $200 million of Senior...

PGS Announces Proposed Public Offering of Senior Unsecured Notes

2005-12-29T16:12:44+01:00

HOUSTON--(BUSINESS WIRE)--March 20, 1998--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it intends to offer an aggregate of $545 million of senior unsecured notes. The company intends to use the net proceeds from the offering of the notes to repay indebtedness and certain other obligations which will be assumed in the company's pending acquisition of the...

PGS and Awilco ASA Shareholders Approve FPSO Business Combination

2005-12-29T16:12:45+01:00

HOUSTON--(BUSINESS WIRE)--March 10, 1998--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that the shareholders of PGS and Awilco ASA approved, at their respective extraordinary general meetings, the acquisition by PGS of the floating production, storage and offloading (FPSO) operations of Awilco. The acquisition will be effected by a demerger of the FPSO operations of Awilco...

Texaco Awards Oil Industry's Largest Vertical Cable Technology Contract To PGS

2005-12-29T16:12:47+01:00

HOUSTON--(BUSINESS WIRE)--March 5, 1998--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it has been awarded a vertical cable contract by Texaco Exploration and Production Inc. which is valued at approximately $15 million. The contract calls for the acquisition and processing of this specialized 3D marine seismic product in the deepwater of the Gulf of Mexico. This...

PGS Subsidiary Reaches One Teraflop of Worldwide Computing Power

2005-12-29T16:25:00+01:00

Houston, Texas; Oslo, Norway; February 23, 1998: Petroleum Geo-Services (NYSE:PGO; OSE:PGS) announced today that its seismic data processing subsidiary, PGS Tensor, Inc., recently exceeded one trillion floating point operations per second (one teraflop) of worldwide computing capacity -- the first seismic data processing firm in the world to reach this plateau. The growth in PGS' computing...

PGS Subsidiary Reaches One Teraflop of Worldwide Computing Power

2005-12-29T16:12:50+01:00

Norsk Hydro Purchases Large Four-Component Database From PGS

2005-12-29T16:12:49+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 23, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that Norsk Hydro ASA has purchased a large group of non-exclusive four-component seismic surveys acquired by PGS on the Norwegian continental shelf. The data was acquired during the summer of 1997 and the fully processed data set was made available for the industry in...

Showcase for Unique, High-Efficiency Integrated Services for Finding, Producing and Managing Reservoirs at the 1998 Offshore Technology Conference in Houston

2005-12-29T16:25:00+01:00

Houston, Texas; Oslo, Norway; February 20, 1998: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) will capitalize on its presence at Houston's internationally-known Offshore Technology Conference to showcase its unique capability to provide an integrated system for economically locating, monitoring and producing hydrocarbon reservoirs. The system combines PGS' advanced seismic acquisition...

PGS to Showcase Its Unique, High-Efficiency Integrated Services for Finding, Producing and Managing Reservoirs at the 1998 Offshore Technology Conference in Houston

2005-12-29T16:12:51+01:00

PGS Ramforms Awarded Two Largest Norwegian Seismic Contracts for 1998

2005-12-29T16:12:52+01:00

HOUSTON and Oslo, NORWAY--(BUSINESS WIRE)--Jan. 12, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that it has been recently awarded two of the largest 3D seismic contracts tendered by Norwegian operators for 1998. The contracts are with Norwegian major oil company Norsk Hydro, and for the Norwegian state oil company, Statoil, respectively. The two contracts are...

PGS Begins Industry's First 12-Streamer Tow; Exercises Option On Ramform No. 6

2005-12-29T16:12:54+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--January 6, 1998--Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that in early December 1997 its Ramform Explorer began a 3D survey offshore West Africa towing 12 full-length seismic streamers--the first time this has been achieved by any seismic vessel. Since the startup of this survey, the vessel, which has consistently been operating...

CNOOC Awards PGS A Contract For The Largest Offshore 3D Survey In China

2005-12-29T16:12:54+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Jan. 5, 1998-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that it has signed a US dollar denominated contract with the China National Offshore Oil Corporation (CNOOC) to conduct a 2, 150 sq. km seismic 3D survey in the Qiong Dong Nan Basin, offshore Hainan Island, China. PGS will conduct the survey using the Nordic Explorer in 6...

Petroleum Geo-Services ASA Offers 4 Million ADSs And Shares

2005-12-29T16:12:56+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Dec. 17, 1997-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today the commencement of the offering of an aggregate of 4, 000, 000 American Depositary Shares ("ADSs") and shares, nominal value NOK 5 per share ("Shares"), at a price of $62 3/16 per share. American Depositary Receipts will evidence the ADSs, and each ADS will represent one...

PGS Announces Proposed Public Offering Of ADSs and Shares

2005-12-29T16:12:57+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Dec. 3, 1997-- Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that it intends to offer an aggregate of 4, 000, 000 American Depositary Shares ("ADS") and shares, nominal value NOK 5 per share. American Depositary Receipts will evidence the ADSs, and each ADS represents one share. Of the 4, 000, 000 ADSs and shares being offered,...

Petroleum Geo-Services Files $800 Million Universal Shelf Registration Statement

2005-12-29T16:12:58+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Nov. 14, 1997-- Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that it filed a universal shelf registration statement with the Securities and Exchange Commission that provides for the issuance of up to $800 million in equity and debt securities. The net proceeds from the sale of these securities will be used for general corporate...

PGS And Hays Form Global Alliance To Supply E&P Data Management Solutions

2005-12-29T16:12:59+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Nov. 3, 1997--Petroleum Geo-Services ASA (NYSE:PGO)(OSE:PGS) announced today that its subsidiary, PGS Data Management has formed a unique global alliance with Hays Information Management (HIM) to create the world's leading exploration and production (E&P) data management organization. The alliance is based on a comprehensive solutions model...

Petroleum Geo-Services Announce The Award Of A Data Management Contract In Brazil

2005-12-29T16:13:01+01:00

PGS And Hays Form Global Alliance To Supply E&P Data Management Solutions

2005-12-29T16:25:01+01:00

Petroleum Geo-Services Announce The Award Of A Data Management Contract In Brazil

2005-12-29T16:25:02+01:00

PGS' advanced data management solutions provide the necessary tools to unlock the ? process bottleneck? , to speed the delivery of critical seismic survey data to oil companies exploring in Brazil. Houston, Texas; Oslo, Norway; November 3, 1997: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that it has been awarded a significant data management contract with PETROBRAS, the...

PGS and Awilco Announce Strategic Business Combination to Form One of the Most Technologically Advanced Oilfield Service Companies

2005-12-29T16:13:03+01:00

Business Editors HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Oct. 20, 1997-- PGS' Advanced Geophysical Reservoir Knowledge Will Be Combined with One of the World's Most Experienced Operators of Floating Production, Storage and Offloading Systems; This Combination Will Provide the Oil Industry an Integrated Oilfield Service Company Capable of Applying the Latest ...

PGS and Maverick Geophysics Complete Commercialization Of First “Picker-Centered” Refraction Statics Program

2005-12-29T16:13:04+01:00

New STRATUS* Program significantly reduces time required to compute refraction statics Houston, Texas; Oslo, Norway; October 17, 1997: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) and Maverick Geophysics LLC reported today the completion of their joint commercialization project for STRATUS* -- the seismic industry's first refraction statics program centered around picking. STRATUS*...

PGS and Maverick Geophysics Complete Commercialization Of First “Picker-Centered” Refraction Statics Program

2005-12-29T16:25:02+01:00

Petroleum Geo-Services Unveils Revolutionary Emc3D* Enhanced Multi-Client 3D Seismic Product For Deepwater Gulf of Mexico

2005-12-29T16:13:05+01:00

Houston, Texas; Oslo Norway, August 25, 1997: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) today unveiled a revolutionary multi-client 3D seismic product that integrates all of PGS' value added products including industry-leading data acquisition technology, multiple rejection and pre-stack time migration, potential field salt modeling, interpretation insight from our experienced reservoir...

Petroleum Geo-Services Unveils Revolutionary Emc3D* Enhanced Multi-Client 3D Seismic Product For Deepwater Gulf of Mexico

2005-12-29T16:25:03+01:00

Petroleum Geo-Services To Hold Deepwater Gulf Of Mexico Multi-Component Seminars In September

2005-12-29T16:13:06+01:00

Houston, Texas; Oslo Norway, August 21, 1997: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that its subsidiary, PGS Reservoir (U. S.), Inc., will conduct a series of technical seminars reviewing recent advances in acquisition, processing and interpretation of multi-component data as it applies to the deepwater areas of the Gulf of Mexico, as follows: Lafayette, Louisiana,...

PGS To Hold Deepwater Gulf Of Mexico Multi-Component Seminars In September

2005-12-29T16:25:03+01:00

PGS/FIT Study Identifies Hydrocarbon Potential In 39 Blocks Offshore Texas

2005-12-29T16:25:04+01:00

Houston, Texas; Oslo Norway, August 19, 1997: Petroleum Geo-Services ASA (NYSE:PGO; OSE:PGS) announced today that a recently completed comprehensive study, jointly conducted by PGS Reservoir and Fluid Inclusion Technologies (FIT), has identified hydrocarbon potential in 39 blocks offshore Texas. Based on evaluation of fluid inclusions (fluid trapped in microscopic spaces in rock fragments) in...

Petroleum Geo-Services/FIT Study Identifies Hydrocarbon Potential In 39 Blocks Offshore Texas

2005-12-29T16:13:07+01:00

PGS Orders A Fifth Ramform Vessel For Delivery In First Quarter Of 1999; Secures Option For Number Six

2005-12-29T16:13:08+01:00

Business/Energy Editors HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Aug. 15, 1997-- Due to increasing demand and consistent with its strategic business plan, PGS has placed an order for Ramform V and secured an option for Ramform VI. Petroleum Geo-Services ASA (NYSE:PGO) announced today that it has signed a tbyggeri to construct a new Ramform seismic survey vessel. This...

PGS is One of the 80 Worldwide to Participate in Discovery Expo '97, July 9, in New York City

2005-12-29T16:13:09+01:00

Business/Energy Editors HOUSTON & OSLO, Norway--(BUSINESS WIRE)--July 7, 1997--Petroleum Geo-Services ASA (NYSE:PGO) will be among 80 of the top growth companies in the world to gather July 9 at Discovery Expo '97 to meet 1, 000 Wall Street movers and shakers at the New York Hilton and Towers. This third in a unique series of Discovery Expos was organized by The Investment Reporter, a...

PGS Wins a Seven Month Contract for Acquisition and Processing Offshore Australia

2005-12-29T16:13:09+01:00

Business Editors HOUSTON and OSLO, Norway--(BUSINESS WIRE)--June 30, 1997-- Petroleum Geo-Services ASA (NYSE:PGO) announced today that it has been selected by Woodside Offshore Petroleum to perform major 3D seismic surveys offshore Western Australia using the Ramform Challenger in 8 streamer, dual source configuration, designed to maximize high density 3D productivity. This project will...

PGS Arranges a $150 Million Multi-Currency Revolving Credit Facility With the Chase Manhattan Bank

2005-12-29T16:13:09+01:00

Business Editors HOUSTON and OSLO, Norway--(BUSINESS WIRE)--May 15, 1997-- Petroleum Geo-Services ASA (NYSE:PGO) announced today that it has entered into a $150 million Multi-Currency Revolving Credit Facility with a syndicate of international banks lead by Chase Manhattan Bank Norge AS, as agent. The facility was arranged by Chase Investment Bank Limited in London. This three year...

PGS Wins a $50 Million Contract for an Acquisition, Processing and Interpretation Project Offshore Western India

2005-12-29T16:13:10+01:00

Business Editors HOUSTON and OSLO, Norway--(BUSINESS WIRE)--May 5, 1997-- Petroleum Geo-Services ASA (NYSE:PGO) announced today that it has been selected to perform the largest reservoir evaluation project ever awarded. In a new initiative to reverse the declining production of its prolific Bombay High Field, the Oil and Natural Gas Corporation of India (ONGC) has selected PGS to perform...

Petroluem Geo-Services ASA is Listed On the NYSE

2005-12-29T16:13:10+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--April 16, 1997--Petroleum Geo-Services ASA (formerly Nasdaq:PGSAY) announced today that its American Depositary Shares (ADS) have begun trading on the New York Stock Exchange under the symbol PGO. Reidar Michaelsen, Chairman and Chief Executive Officer of Petroleum Geo-Services, stated, "Listing on the NYSE, only six years after the Company's...

PGS Sets Another Seismic Acquisition Record in Deep Water Gulf of Mexico

2005-12-29T16:13:11+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--April 14, 1997-- PGS's Seismic Acquisition System in the Us Gulf of Mexico Achieves an Overall 1, 440 Meter Minimum Separation (Spread) Between Outer Streamers, Nearly Doubling Previous Industry Records. Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that its unique marine seismic data acquisition system set a new...

Petroleum Geo-Services Launches Australia's First Ever Multi-Client Marine Seismic Survey

2005-12-29T16:13:12+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--April 11, 1997-- PGS Works With the Australian Government and Woodside Offshore Petroleum Pty Ltd to Acquire Multi-Client 3D Seismic Data On the North West Shelf of Australia Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that changes in the legislation governing the period of confidentiality for 3D seismic data has resulted in the...

Petroleum Geo-services ASA is Approved for Listing On the New York Stock Exchange

2005-12-29T16:13:13+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--April 3, 1997--Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that its American Depositary Shares (ADS) will begin trading on the New York Stock Exchange effective April 16, 1997. Each ADS represents one ordinary share, par value 5 Norwegian Kroner. The ADS will trade under the symbol PGO. The Company's ordinary shares will continue to trade...

Petroleum Geo-Services Wins Contract for Canada's Largest Marine Seismic Survey

2005-12-29T16:13:15+01:00

Petroleum Geo-Services Prices $360 Million Financing

2005-12-29T16:13:16+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--March 18, 1997--Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that it priced its offering of $360 million Senior Unsecured Notes, due 2007. The Notes have a coupon rate of 7.5% and were priced at 99.324% to yield 7.597%. This transaction is expected to close March 21, 1997. The underwriters for this offering are Donaldson, Lufkin & Jenrette,...

PGS Files Registration Statement to Register $300 Million in Senior Unsecured Notes

2005-12-29T16:13:16+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 24, 1997--Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that it has filed a registration statement with the Securities and Exchange Commission to register $300 million of senior unsecured notes due 2007. The net proceeds from this issue will be used to repay approximately $125 million in privately held senior notes which were scheduled...

pgs Awarded Major Contract to Construct and Operate a North Sea Floating Production System Using Ramform Technology

2005-12-29T16:13:17+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 19, 1997--Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that Conoco has awarded PGS a major contract to construct and operate a Ramform design floating production, storage and offloading system ("FPSO") in connection with the development of the Banff field in the UK sector of the North Sea. The Company expects the contract to generate...

PGS Acquires Four High Tech Seismic Vessels

2005-12-29T16:13:18+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Feb. 10, 1997--Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today that it has recently finalized its acquisition of the "R/V American Explorer, " the "R/V Ocean Explorer" and the "M/V Nordic Explorer." In addition, the Company has an agreement with the owner of the "M/V Atlantic Explorer" to purchase that vessel effective January 1, 1997, subject...

PGS `Ramform Challenger' Vessel Sets Seismic Productivity Record

2005-12-29T16:13:18+01:00

HOUSTON and OSLO, Norway--(BUSINESS WIRE)--Jan. 7, 1997--Petroleum Geo-Services ASA (Nasdaq:PGSAY) announced today the completion of a major West African 3D seismic survey, acquired in record time by the revolutionary new seismic vessel, "Ramform Challenger." The survey, acquired for United Meridian Corp. and Global Natural Resources in deep waters off the Ivory Coast, was completed in early...