Cyprus to open first offshore licensing round

Feb. 7, 2007
PGS, in cooperation with the Cyprus Ministry of Commerce, Industry and Tourism, officially will open the first licensing round offshore Cyprus on Thursday, Feb. 15, in Nicosia, Cyprus.

Offshore staff

NICOSIA, Cyprus -- PGS, in cooperation with the Cyprus Ministry of Commerce, Industry and Tourism, officially will open the first licensing round offshore Cyprus on Thursday, Feb. 15, in Nicosia, Cyprus.

This license round is based on the PGS multi-client 2D seismic acquisition which includes 6,770 line km ( 4,207 mi) of data covering 70,000 sq km (27,027 sq mi) over the Eratosthenes structure, Levant basin, and the prolific Nile Delta. The survey was made available in November 2006 and ties all of the wells in the Deepwater NEMED block in Egypt.

Detailed information regarding the offshore Cyprus survey is available from the data library on the PGS website at http://www.pgs.com.

PGS also is acquiring two new multi-client 3D surveys offshore Lebanon covering 1,500 sq km (579 sq mi) and 1,000 sq km (386 sq mi), respectively. These surveys will form the basis for the first license round offshore Lebanon later this year.

2/7/2007