1、Petroleum Geo-Services ASAPGS annual rePort 2008A Clearer ImageA Clearer ImagePetroleum Geo-Services ASAPoStal aDDreSSPO Box 89NO-1325 LysakerNorwaytelePHone+47 67 52 64 00VISItInG aDDreSSStrandveien 4LysakerNsignatur.no 290370CONTENTS PGS ANNUAL REPORT 2008 1 Contents Letter from the CEO.2 Board of
2、 Directors Report.4 Corporate Governance.13 Consolidated Statements of Operations.16 Consolidated Balance Sheets.17 Consolidated Statements of Cash Flows.18 Consolidated Statements of Changes in Shareholders Equity.19 Notes to the Consolidated Financial Statements.20 Statement of Operations PGS ASA.
3、69 Balance Sheet PGS ASA.70 Statement of Cash Flows PGS ASA.71 Notes to the Financial Statements of PGS ASA.72 Auditors Report.82 LETTER FROM THE CEO PGS ANNUAL REPORT 2008 2 LETTER FROM THE CEO Dear fellow shareholder,2008 was the strongest year ever in PGS history.We saw the price of oil at record
4、 levels and exploration activity peaked.PGS delivered great margins and ended the year with a strong order book and robust financing in place.We have the worlds most productive and cost efficient fleet,competitive returns on MultiClient investments,leading edge data processing capabilities,and sever
5、al unique technologies,and most importantly,a very experienced and dedicated staff known for quality of execution,flexibility and innovation.We are well positioned to meet a more challenging market.PGS is committed to manage its business in such a way that it minimizes the risk to the health and saf
6、ety of its employees.Despite a systematic approach to continuously improve our performance in HSEQ,we experienced a tragic fatality in our 50%held joint venture in Russia,PGS Khazar in 2008.This incident was fully investigated,root cause established and action taken to prevent reoccurrence.We will w