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PGS Production Secures Tanker for FPSO Conversion

January 11, 2006

OSLO, Norway, Petroleum Geo-Services ASA (OSE:PGS) (NYSE:PGS) announced today that its wholly owned subsidiary PGS Production has entered into an agreement to purchase the shuttle tanker MT “Rita Knutsen” from Knutsen OAS Shipping for USD 35 million.

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