Also, as previously reported, Pertra was successful in the 18th Licensing Round in Norway, where it was awarded 80 percent participation and operatorship in Production Licence (PL) 321 and 30 percent participation in PL 316.
Due to the successful development, PGS has now started a process reviewing its strategic opportunities for Pertra. Various growth scenarios are being evaluated, both high growth and more gradual growth alternatives for Pertra. PGS has engaged advisors in order to also evaluate a broader ownership base with the purpose of strengthening the capital base for growth.
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Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units (FPSOs) and owns a small oil and gas company. PGS operates on a worldwide basis with headquarters in Oslo, 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 within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on various assumptions made by the Company which are beyond its control and certain additional risks and uncertainties as disclosed by the Company in its filings with the Securities and Exchange Commission. As a result of these factors, actual events may differ materially from those indicated in or implied by such forward-looking statements.
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