The Crystal Survey – Going for the sub salt prospects

In fourth quarter 2006, PGS began shooting the Crystal multi-client wide azimuth survey in Gulf of Mexico with our high capacity Ramform Viking vessel as recording vessel and Ocean Explorer and Falcon Explorer as shooting vessels.

Covering an area of approximately 9,345 square kilometers, equal to approximately 1.3 million soccer fields, the multi-client survey will provide the oil and gas industry wide azimuth seismic data over large areas in Keathley Canyon, Walker Ridge,
Garden Banks and Green Canyon in Gulf of Mexico.

By acquiring the seismic data with wide azimuth technology, we are able to provide the oil and gas industry a much improved illumination of the salt bodies and what is beneath them in the deep water areas of Gulf of Mexico. The geology in the lower tertiary in Gulf of Mexico is prolific with significant potential for oil and gas prospects.

Data from the survey will be available ahead of the planned lease-sale in October 2007. BP is the primary financial and technical partner of the Crystal survey. BP is regarded as the leading exponent of wide- and multi-azimuth technology in the exploration com-munity, and we are proud of working together with them on this exciting project.

The Crystal survey is one of the first multi-client wide azimuth surveys ever shot, and the largest survey PGS has ever shot in the Gulf of Mexico. We are already in discussions with other clients regarding future potential wide azimuth surveys.