OFG, in partnership with PGS, completes the acquisition of NCS, the owner and operator of P-Cable


June 1, 2022: Further to our earlier announcement on March 9, 2022, Ocean Floor Geophysics, Inc (OFG) is pleased to announce that it has completed its acquisition of NCS SubSea, which provides ultra-high resolution 3D seismic data to the oil and gas and new energy markets via their market-leading P-Cable system.

With the addition of P-Cable technology, OFG now provides the broadest range of marine geophysical data technology and services available in the offshore market today, offering the widest range of sensor solutions from surface, AUV and ROV platforms, combined with unique multiphysics processing, integration, and interpretation capabilities.

OFG was assisted in this transaction by PGS, OFG’s largest shareholder and strengthens the strategic alignment collaboration between OFG and PGS. The PGS New Energy group, which services markets including carbon capture and storage (CCS), renewables (wind farms) and seabed minerals, works closely with OFG as a preferred supplier of ultra-high-resolution seismic, CSEM, magnetic and acoustic surveying products and services.

“OFG is delighted to complete the acquisition of NCS and its P-Cable ultra-high resolution 3D seismic technology. We have seen a significant market interest in P-Cable over the past few months in both traditional oil and gas markets for shallow imaging of reservoirs and geohazards, as well as in new energy markets, particularly for offshore wind surveys. We look forward to offering P-Cable products and services to existing and new customers.” says Matthew Kowalczyk, CEO of OFG.

“This transaction further strengthens the PGS-OFG partnership and expands our combined offering within conventional and New Energy markets. We are building OFG to be a preferred provider of marine site characterization and asset integrity services.” says Artem Lytkin, Vice President at PGS New Energy and an Executive Chairman of OFG.

FOR DETAILS PGS, CONTACT: Bård Stenberg, VP IR & Corporate Communication Mobile: +47 99 24 52 35 FOR DETAILS OFG, CONTACT: Matthew Kowalczyk, CEO Email: matthew.kowalczyk@oceanfloorgeophysics.com Richard Cooper, Strategic Advisor Email: richard.cooper@oceanfloorgeophysics.com

About PGS:

PGS ASA and its subsidiaries (“PGS” or “the Company”) is a fully integrated marine geophysical company that provides a broad range of seismic and reservoir services, including data acquisition, imaging, interpretation, and field evaluation. Our services are provided to the oil and gas industry, as well as to the broader and emerging new energy industries, including carbon storage and offshore wind. The Company operates on a worldwide basis with headquarters in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS). For more information on PGS visit www.pgs.com.

About OFG:

Ocean Floor Geophysics (OFG) uses and designs subsea robotic systems to acquire and integrate geophysical, geochemical and geotechnical data. OFG’s interdisciplinary team integrates and operationalizes complex systems that enable clients to make informed and sustainable decisions for their subsea exploration, development and inspection projects. For more information about OFG, visit www.oceanfloorgeophysics.com.