PRESS RELEASE

Spectrum commences Phase III of the Brazil Santos Campos Multi-Client 2D Seismic Campaign

By
Wednesday, December 20, 2017

Press release by

Spectrum

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Spectrum is set to further strengthen its industry-leading position in offshore Brazilian seismic with a new Multi-Client acquisition program in the Campos Santos basin. The Phase III survey is an extension of Spectrum's 2017 Santos Campos Phase II survey, covering an area in the southern Santo Basin. This new data incorporates areas included in the Round 16 licensing proposal, scheduled for 2019. With this additional program, Spectrum will provide over 47,000 km of modern 2D long offset seismic data to industry for evaluation of this highly prolific Santos Campos hydrocarbon province.

The survey is being acquired with a 12,000 m cable to record data necessary to understand basin architecture as well as to image prospective zones in the pre-salt section. The data will be processed in Spectrum's Houston imaging center with PSTM, PSDM (Kirchhoff and RTM) and Broadband products expected to be available in Q3 2018.

Richie Miller, EVP Multi-Client Americas, comments, "The Santos Basin of Brazil is one of the most attractive basins in the world. Adding new seismic data with advanced imaging over an area in the Santos Basin with limited exploration history or data allows for industry to work this data and understand the complete Santos Basin for the first time. Phase III will cover additional rift basins identified by our existing regional Deep Focus survey, and complete the coverage of the sectors proposed for Round 16."

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

For further information, please contact:

Jan Schoolmeesters, COO

Email: jan.schoolmeesters@spectrumgeo.com

Tel: +47 91 77 79 61

Richie Miller, EVP Multi-Client Americas

Email: richie.miller@spectrumgeo.com

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 the Norway, 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.