PGS Announces GeoStreamer GS(TM) - Ghost-Free Seismic Technology

Vienna, May 24, 2011:



The PGS GeoStreamer GS(TM) introduces a new era of ghost-free, broadband seismic
data.
Seismic data without the source- and receiver sea surface reflections (ghosts)
produce subsurface seismic images of unprecedented quality and represent removal
of some of the most significant noise components that the marine seismic
industry have struggled with since its beginning in the 1960ies.

Four years ago PGS solved a 40-year old industry problem by eliminating the
receiver ghost with dual sensor recording through its unique GeoStreamer. This
results in seismic data with considerably broader bandwidth due to the removal
of the receiver ghost. Furthermore, the dual sensor GeoStreamer enables towing
at any depth without compromising low- or high frequencies, as experienced by
conventional streamer technology. As the GeoStreamer is routinely towed between
15 and 25 m depth, a significant increase in operational efficiency together
with a strong reduction in surface induced noise, further adds to its unique
advantages.

However, the sea surface reflection on the source side still remains and
represents a limiting factor in revealing the true earth response.

At the EAGE conference in Vienna today, PGS announces its latest development,
the GeoSteamer GS . This is an acquisition based solution that enables the
removal of both the source and receiver ghosts thus revealing the true earth
response, which for long has been the ultimate goal of any seismic experiment.

The GeoStreamer GS technology will be introduced this year, and is expected to
be available in 3D in most regions of the world by 2012. GeoStreamer GS delivers
better seismic data and more efficient operations through removal of the sea-
surface reflections on both the source and receiver side.


"GeoStreamer delivers better seismic data and more efficient operations. The
ghost-free, broadband technology goes hand in hand with deep towed operational
advantages. Operational and geophysical evidence from 2D and 3D projects around
the world reliably demonstrate that GeoStreamer is always better. GeoStreamer GS
takes a further step ahead," commented Jon Erik Reinhardsen, CEO of Petroleum
Geo-Services.  He continues:

"The GeoStreamer has been remarkably successful in leading the industry into
commercially practical broadband seismic. The next step was to develop our
technology for removing the source ghost in a similarly effective way. With
GeoStreamer GS we are launching a robust, fully ghost free acquisition solution.
We will be rolling it out progressively across our GeoStreamer fleet."



Further information can be found at www.pgs.com/geostreamergs



FOR DETAILS, CONTACT:

Tore Langballe, SVP Corporate Communications PGS

Mobile: +47 90 77 78 41

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






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Source: Petroleum Geo-Services ASA via Thomson Reuters ONE

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Unternehmen: Petroleum Geo-Services ASA - ISIN: NO0010199151