Source Pravda.Ru

PGS Rise On UAE Offshore Development Reports

Petroleum Geo Services shares rose as much as 3.2 percent after a report said the company and Crescent Petroleum of the United Arab Emirates signed a production sharing agreement to develop an offshore gas field.

The shares added as much as 0.8 krone to 25.5 kroner. The two companies signed an agreement with Persian Gulf emirates Ajman and Sharjah, two of the smaller emirates in the United Arab Emirates federation, according to the Gulf News daily newspaper.

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