Olje og energi

kroif
18.01.2022 kl 08:10 2078

PGS ASA: Awarded Endurance CCS Acquisition Contract
January 18, 2022: Oslo, Norway, PGS is awarded a Carbon Capture and Storage
("CCS") 3D seismic acquisition contract by BP over the Endurance reservoir,
located about 145 kilometers off the coast from Teesside and around 85
kilometers from the Humber coast. Seismic acquisition is scheduled to start
during April 2022 and complete in June.

"PGS has a history of pioneering the marine 3D seismic market and the Endurance
survey is one of the industry's first publicised awards of a 3D acquisition
contract in North Sea specifically designed to address CCS project development
challenge. In the second half of 2021 we announced a sale of MultiClient data
for CCS purposes and now we are very pleased to announce the award of an
acquisition contract. This further strengthens our leading market position and
is an important step in expanding our contribution to net-zero transition.

Numerous research reports estimate a significant need for CCS storage going
forward. Even in the more conservative projections, seismic acquisition for CCS
purposes is likely to constitute a significant new market for our industry",
says President & CEO in PGS, Rune Olav Pedersen.

FOR DETAILS PGS, CONTACT:

Bård Stenberg, VP IR & Corporate Communication
Mobile: +47 99 24 52 35

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