PGS Lands Contract from Unocal

The Reservoir Consultants division of Petroleum Geo-Services ASA has signed a prospect generation consulting agreement with Unocal. This pilot project is the result of Unocal's continuing efforts to leverage external industry experience and resources (Unocal's EnergyOpps(TM) Web-based initiatives).

PGS Reservoir Consultants offers high-end subsurface consulting services and has extensive experience in the Gulf of Mexico, Central and South America, North and West Africa, the North Sea and other regions. In this consulting role, PGS' experienced Gulf of Mexico technical team will interpret a large 3D seismic survey in the western Gulf of Mexico. PGS will generate exploration ideas based on its in-depth knowledge of the project area and its regional Gulf of Mexico GIS database.

Reidar Michaelsen, PGS' chairman and chief executive officer, stated, "We are very pleased to see our Consulting group help expand PGS' role beyond that of a traditional seismic data provider. We are looking forward to providing Unocal with a high level of input and to helping further their Gulf of Mexico exploration program."