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PGS - www.yoursubseanews.com

PGS Announces Vessel Allocation Q2 2009

Friday, Jul 03, 2009

Oslo, Norway, Petroleum Geo-Services ASA routinely releases information about vessel utilization around the end of each quarter.

Summary of vessel utilization:

 

Approximate allocation of PGS total 3D towed streamer capacity

Quarter ended

June 30,

Quarter ended March 31,

 

2009

2008

2009

Contract seismic

  46%

70%

77%

MultiClient seismic

40%

14%

9%

Steaming

9%

13%

9%

Yard

5%

3%

5%

Standby

0%

0%

0%

         

MultiClient activity in Q2 2009 was predominantly done in Brazil and the North Sea. The high MultiClient activity in Q2 is in line with the Company's earlier announced plan for the year.

As previously announced PGS plans to release its Q2 2009 financial results on Thursday, July 23, 2009, at approximately 8:00 am Central European Time (CET).

 

FOR DETAILS, CONTACT:

 

Bård Stenberg, Investor Relations Manager

Phone: +47 67 51 43 16

Mobile: +47 99 24 52 35

 

US Investor Services

Phone: +1 281 509 8712

 

 

Petroleum Geo-Services is a focused geophysical company providing a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. The company also possesses the world's most extensive multi-client data library. PGS operates on a worldwide basis with headquarters at Lysaker, Norway.

 

Source: Petroleum Geo-Services

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