PGS ASA - First Mover Offshore Mexico

Petroleum Geo-Services ASA (PGS) commenced operations of a MultiClient 2D seismic program offshore Mexico on May 16th. The two 2D vessels Atlantic Explorer and Sanco Spirit will acquire multiple projects recently approved by the Mexican government. The first program to be acquired is the Mexico Well Tie MC2D which will provide clients with an excellent grounding for understanding the hydrocarbon prospectivity in the area. Fast track products will be available in June 2015.
 
"PGS is proud to conduct its first commercial seismic acquisition project in Mexico after approval of the Mexican Energy Reform," says Gregg Parker, Regional President NSA MultiClient in PGS. "We have worked diligently to position the Company as a first mover in Mexico and we are now very pleased to say that we have been successful in our endeavor. PGS views Mexico as a viable investment market for many years to come for the full suite of all our solutions."
 
 These surveys will be acquired using PGS proprietary GeoStreamer technology and are supported by industry pre-funding.