Spectrum ASA : Cooperation agreement with Schlumberger to jointly aquire and process Spectrum's offshore Mexico 2D program

HOUSTON, May 19th, 2015-Spectrum announced today that it has entered into a cooperation agreement with Schlumberger, the world's leading provider of oilfield services to the upstream E&P industry, to jointly acquire and process Spectrum's offshore Mexico Campeche-Yucatan 2D regional Multi-Client program. The cooperation agreement includes more than 44,000 km of regional 2D seismic data in the new frontier Campeche/Yucatan area.

The new 2D regional program provides a seamless tie to the Spectrum's Big Wave Multi-Client program in the northern and eastern areas in the US section of the Gulf of Mexico. The long offset 2D survey was designed to best illuminate the complex structures located in the deep water area, including both pre-salt and post-salt plays.

Richie Miller, EVP Multi-Client North & South America, comments: "Spectrum is pleased to have the opportunity to collaborate with Schlumberger on this unique program, which leverages both Spectrum's expertise with 2D regional programs worldwide and Schlumberger's extensive geological and geophysical knowledge. Schlumberger has been continuously present in Mexico, supporting the industry for a broad range of services, since the late 1930s. We believe that the Mexico Campeche-Yucatan 2D regional program will reveal exciting new exploration opportunities, given its location adjacent to the highly productive and prospective areas in the US section of the Gulf of Mexico and prolific areas in Mexico to the southwest. "

For further information or questions, please contact:

Jan Schoolmeesters, COO, Spectrum ASA

Email: jan.schoolmeesters@spectrumgeo.com
Tel: +47 91 77 79 61

Richie Miller, EVP Multi-Client North & South America
Email: richie.miller@spectrumgeo. com
Tel: +1 281 698 8850

Henning Olset
, CFO, Spectrum ASA

Email: henning.olset@spectrumgeo.com
Tel: +47 92 26 69 48

About Spectrum

Spectrum provides innovative Multi-Client seismic surveys and high-quality seismic imaging services to the global oil and gas industry from offices in the UK, Norway, USA, China, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce.

Spectrum holds one of the world's largest libraries of Multi-Client 2D marine seismic data. The company's strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports.

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

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