UNITED STATES -----------------------------
SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
-----------------------------
-----------------------------
OMB Number: 3235-0145
Expires: December 31,
2005
Washington, D.C. 20549 Estimated average burden
hours per response....11
-----------------------------
-----------------------------
SCHEDULE 13D/A
(Amendment No. 1)
Under the Securities Exchange Act of 1934*
PETROLEUM GEO-SERVICES ASA
--------------------------------------------------------------------------
(Name of Issuer)
Ordinary Shares, Nominal Value NOK5 per Share, and
American Depositary Shares, Each Representing One Ordinary Share
-------------------------------------------------------------------------
(Title of Class of Securities)
716597109 (American Depositary Shares)
---------------------------------------------------------------------------
(CUSIP Number)
Michel Ponthus
Senior Executive Vice President
Finance and Human resources
and Chief Financial Officer
Compagnie Generale de Geophysique
1, rue Leon Migaux
91341 Massy
France
(33-1) 64 47 3000
----------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 18, 2003
-----------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box:
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 240.13d-7 for
other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
SCHEDULE 13D
--------------------------------------------------------------------------------
CUSIP No. 716597109 (American depositary shares)
--------------------------------------------------------------------------------
------- -----------------------------------------------------------------------
1 NAMES OF REPORTING PERSON
I.R.S. IDENTIFICATION
Compagnie Generale de Geophysique I.R.S. # Not Applicable
-------------------------------------------------------------------------------
----------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a)_
(b)_
-------------------------------------------------------------------------------
------- -----------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
------- -----------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
-------------------------------------------------------------------------------
------- -----------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
-------------------------------------------------------------------------------
------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of France
------------------------------- --------- --------------------------------------
7 SOLE VOTING POWER
7,757,400
--------- --------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARE 0
BENEFICIALLY --------- ---------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 7,757,400
PERSON WITH --------- ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
--------- ----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,757,400
--------------------------------------------------------------------------------
------- ------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
--------------------------------------------------------------------------------
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.5%
--------------------------------------------------------------------------------
------- ------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
------- ------------------------------------------------------------------------
Item 1. Security and Issuer.
This Amendment No. 1 amends the statement on Schedule 13D (such schedule as
amended being the "Schedule 13D") originally filed on October 4, 2002 and
relating to the ordinary shares, nominal value NOK5 per share (the "Shares"),
and the American depositary shares, each representing one Share (the "ADSs") and
evidenced by American depositary receipts, of Petroleum Geo-Services ASA, a
Norwegian allmennaksjeselskap (the "Company"), and is being filed pursuant to
Rule 13d-2 of the Exchange Act. The address of the principal executive offices
of the Company is Strandveien 4, N-1366 Lysaker, Kingdom of Norway. References
herein to Shares include references to ADSs unless the context otherwise
requires. Capitalized terms not otherwise defined herein have the meanings
ascribed to them in the Schedule 13D.
Item 2. Identity and Background.
This statement is being filed by Compagnie Generale de Geophysique, a
French societe anonyme (the "Reporting Person"). The list of the executive
officers and directors of the Reporting Person attached hereto as Schedule I and
incorporated herein by reference contains the following information with respect
to each such person: (i) name, (ii) business address, (iii) present principal
occupation or employment and name, principal business and address of any
corporation or other organization in which such employment is conducted and (iv)
citizenship.
The Reporting Person is a societe anonyme duly incorporated under the laws
of the Republic of France.
The Reporting Person participates in the oilfield services industry by
providing seismic data acquisition, processing and geoscience services and
equipment to clients in the oil and gas exploration and production business.
The address of the principal business and principal office of the Reporting
Person is 1, rue Leon Migaux, 91341 Massy, France.
Neither the Reporting Person nor, to the best of its knowledge, any of the
persons named in Schedule I has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
Neither the Reporting Person nor, to the best of its knowledge, any of the
persons named in Schedule I has, during the last five years, been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
No Amendment.
Item 4. Purpose of Transaction.
Item 4 is amended to add the following final paragraph:
As a significant shareholder of the Company since September 26, 2002 with a
7.5% equity stake, the Reporting Person has given its support to the financial
restructuring plan as set forth in a Plan Support Agreement dated June 18, 2003.
This support is materialized by the participation of the Reporting Person to the
group of "supporting shareholders" who have committed to jointly acquire 30% of
the post-restructuring equity of the Company for a global amount of $85 million
(of which $22 million for the Reporting Person and $60 million for another
shareholder of the Company unaffiliated with the Reporting Person). 75% of this
30% tranche will be proposed to the Company's shareholders pro-rata to their
share ownership at a date to be determined,
- 2 -
therefore potentially reducing the amount guaranteed to the "supporting
shareholders" to a minimum 25% of this tranche (corresponding to $5.5 million
for the Reporting Person). Upon completion of this process anticipated by fall
2003, the Reporting Person's stake in the Company will therefore be comprised
between 2.7% and 8.1%.
Item 5. Interest in Securities of the Issuer.
(a) No Amendment.
(b) No amendment.
(c) No transactions in Shares of the Company were effected during the last
sixty days by the Reporting Person or any of the persons set forth in Schedule
I.
(d) No Amendment.
(e) No Amendment.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to the Securities of the Issuer.
No Amendment.
Item 7. Material to be Filed as Exhibits
Exhibit No. Description
10.1 Plan Support Agreement (including the PGS Summary of
Proposed Terms for Balance Sheet Restructuring), dated as
of June 18, 2003, among the Company and certain of PGS'
bank lenders, bondholders and shareholders (including the
Reporting Person).
- 3 -
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: June 27, 2003 COMPAGNIE GENERALE DE GEOPHYSIQUE
By: /s/ Christophe Pettenati-Auziere
---------------------------------------------
Name: Christophe Pettenati-Auziere
Title: Senior Executive Vice President
(Strategy, Planning and Control)
SCHEDULE I
Set forth below is the name, position and present principal occupation or
employment of each of the executive officers and directors of Compagnie Generale
de Geophysique (the "Reporting Person") as well as, when such present principal
occupation or employment is not with the Reporting Person, the name, principal
business and address of any corporation or other organization in which such
employment is conducted. Except as otherwise indicated, the business address of
each of such persons is 1, rue Leon Migaux, 91341 Massy, France, and each of
such persons is a citizen of the Republic of France. Except as otherwise
indicated, no such person owns beneficially any ordinary share, nominal value
NOK5 (a "Share") and/or American depositary share (an "ADS") of Petroleum
Geo-Services ASA (the "Company").
Executive Officers and Directors of the Reporting Person
--------------------------------------------------------
--------------------------------------------------------------------------------
NAME PRESENT PRINCIPAL OCCUPATION IN ADDITION
TO POSITION WITH THE REPORTING PERSON
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Robert Brunck Chairman and Chief Executive Officer of the
Reporting Person.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Gerard Chambovet Senior Executive Vice President of the Reporting
Person (Services).
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Thierry Le Roux Senior Executive Vice President of the Reporting
Person (Products).
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Michel Ponthus Senior Executive Vice President (Finance and Human
Resources) and Chief
Financial Officer of the Reporting Person.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Christophe Pettenati-Auziere - Senior Executive Vice President of the Reporting
Person (Strategy, Planning and Control).
- Number of ADSs of the Company beneficially
owned: 1,000.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Gerard Fries - Director of the Reporting Person;
- Senior Executive Vice President of Institut
Francais du Petrole 1, avenue du Bois Preau
92500 Rueil Malmaison, France.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Robert Castaigne - Director of the Reporting Person;
- Chief Financial Officer and member of the
Executive Committee of TotalFinaElf
2, place de la Coupole
La Defense 6
92078 Paris La Defense Cedex, France.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Jean Dunand Director of the Reporting Person.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Olivier Appert - Director of the Reporting Person;
- President of the Institut Francais du Petrole
1, avenue du Bois Preau
92500 Rueil Malmaison, France.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Yves Lesage Director and Honorary Chairman of the Reporting
Person.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
John MacWilliams(1) - Director of the Reporting Person;
- Partner of JP Morgan Partners
1221 Avenue of the Americas
New York, New York 10020, U.S.A.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Christian Marbach Director of the Reporting Person.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Daniel Valot - Director of the Reporting Person;
- Chairman of the Management Board of
Technip-Coflexip
170, place Henri Regnault
92973 Paris La Defense Cedex, France.
----------------------------- --------------------------------------------------
----------------------------- --------------------------------------------------
Robert Semmens(1) - Director of the Reporting Person;
- Independent consultant.
----------------------------- --------------------------------------------------
-----------------
(1) U.S. citizen.