Petroleum Geo-Services ASA: Vessel Allocation Q2 2012

03.07.2012  |  Marketwired

LYSAKER, NORWAY -- (Marketwire) -- 07/03/12 -- Petroleum Geo-Services ASA ('PGS' or the
'Company')
routinely releases information about 3D vessel utilization after the end of
each
quarter.

Summary of vessel utilization:

+-------------------------------------+---------------+---------------+
| Approximate allocation of PGS total | Quarter ended | Quarter ended |
| 3D towed streamer capacity          |   June 30,    |   March 31,   |
|                                     +-------+-------+---------------+
|                                     | 2012  | 2011  |     2012      |
+-------------------------------------+-------+-------+---------------+
| Contract seismic                    |   40% |   49% |           57% |
+-------------------------------------+-------+-------+---------------+
| MultiClient seismic                 |   48% |   33% |           31% |
+-------------------------------------+-------+-------+---------------+
| Steaming                            |    9% |    9% |            6% |
+-------------------------------------+-------+-------+---------------+
| Yard                                |    3% |    9% |            5% |
+-------------------------------------+-------+-------+---------------+
| Standby                             |    0% |    0% |            1% |
+-------------------------------------+-------+-------+---------------+

PGS will release its Q2 and first half 2012 financial results on Thursday
July
26, 2012, at approximately 8:00 am Central European Time (CET), with a
corresponding presentation, webcast and conference call scheduled for 9:00
am
CET, followed by a conference call at 3:00 pm CET.

                                      ****

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.

For more information on Petroleum Geo-Services visit www.pgs.com.

                                      ****

The information included herein contains certain forward-looking statements
that
address activities, events or developments that the Company expects,
projects,
believes or anticipates will or may occur in the future. These statements
are
based on various assumptions made by the Company, which are beyond its
control
and are subject to certain additional risks and uncertainties. The Company
is
subject to a large number of risk factors including but not limited to the
demand for seismic services, the demand for data from our multi-client data
library, the attractiveness of our technology, unpredictable changes in
governmental regulations affecting our markets and extreme weather
conditions.
For a further description of other relevant risk factors we refer to our
Annual
Report for 2011. As a result of these and other risk factors, actual events
and
our actual results may differ materially from those indicated in or implied
by
such forward-looking statements. The reservation is also made that
inaccuracies
or mistakes may occur in the information given above about current status
of the
Company or its business. Any reliance on the information above is at the
risk of
the reader, and PGS disclaims any and all liability in this respect.

                                    --END--

This information is subject of the disclosure requirements pursuant to
section
5-12 of the Norwegian Securities Trading Act.

Vessel Allocation Q2 2012:
http://hugin.info/115/R/1623703/519084.pdf

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Petroleum Geo-Services ASA via Thomson Reuters ONE
[HUG#1623703]

FOR DETAILS, CONTACT:


Tore Langballe

SVP Corporate Communications

Phone: +47 67 51 43 75

Mobile: +47 90 77 78 41