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Petroleum Geo-Services ASA : Vessel Allocation Q4 2012

01/03/2013 | 02:04am US/Eastern

January 3, 2013: Oslo, Norway, 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 3D towed streamer capacity
Quarter ended
December 31,
Quarter ended September 30,
2012 2011 2012
Contract seismic   47% 67% 46%
MultiClient seismic 28% 8% 42%
Steaming 17% 18% 11%
Yard 8% 7% 1%
Standby 0% 0% 0%


PGS will release its Q4 financial results on Thursday February 14, 2013, at approximately 8:00 am Central European Time (CET). A corresponding presentation, webcast and conference call is scheduled for 9:00 am CET, followed by a conference call at 3:00 pm CET.

FOR DETAILS, CONTACT:
Bård Stenberg, Investor Relations Manager
Phone:   +47 67 51 43 16
Mobile: +47 99 24 52 35

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Petroleum Geo-Services is a focused marine 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.

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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.

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

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