Investor News Story

Spectrum ASA: Spectrum commences Pernambuco-Paraiba Multi-Client 2D Campaign (2018-04-06T07:15:00 CET)

Spectrum has commenced a 6,000 kilometer 2D program over the lightly explored Pernambuco-Paraiba basins along the Eastern Margins of Brazil. The survey covers an area north of the prolific Sergipe Basin that will be included in Round 16 scheduled for 2019.

The survey is being acquired with a 12,000 meter cable to record data necessary to understand basin architecture as well as to image prospective zones similar to the large oil discoveries in the Sergipe Basin. Data will be processed in Spectrum's Houston processing center with final PSTM and PSDM Broadband products available in Q4 2018.

Richie Miller, EVP Multi-Client Americas, comments, "This survey is the next step in producing a continuous modern long-offset survey covering all of the offshore areas of Brazil.  The industry has a need for modern seismic data in this region, especially when the area will be included in Round 16. The Sergipe Basin area to the south of Pernambuco has seen strong interest in the past three rounds and we expect the same for this area in Round 16, scheduled in 2019."

This survey will be carried out in partnership with BGP Marine.

For further information, please contact:

Jan Schoolmeesters, COO
Tel: +47 91 77 79 61

Richie Miller, EVP Multi-Client Americas
Tel: +1 281 647 0602

About Spectrum

Spectrum provides innovative Multi-Client seismic surveys and high-quality
seismic imaging services to the global oil and gas industry from offices in
Norway, the UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum
designs, acquires and processes seismic data to deliver high quality solutions
through its dedicated and experienced workforce.

Spectrum holds the world's largest library of Multi-Client 2D marine seismic
data and a significant amount of 3D seismic. The company's strategy focuses on
both the major, established hydrocarbon-producing regions of the world as well
as key frontier areas identified by our experienced team of geoscientists. The
Spectrum library of Multi-Client data contains projects from many of the
foremost oil producing regions of the world. These include new acquisition,
reprocessing and interpretation reports.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.