Spectrum ASA (Spectrum), a newly established company, has been floated on the Oslo Axess Stock Exchange following a successful initial public offering (IPO) of 8,052,767 shares at NOK 18.63 per share. Spectrum has demerged from Norwegian parent company GGS ASA to specialize in the provision of seismic services for the oil exploration industry.

Spectrum Chief Executive Officer David Rowlands explained, "We are delighted that the market has recognised the value and particularly the potential of Spectrum which ensured today's successful listing. We are already experiencing strong organic growth for our products and services which has been driven by high energy prices. Consequently, I am confident that Spectrum will provide an excellent return for its new investors."

Spectrum has built an excellent reputation for "intelligent" seismic processing, where the company uses its considerable experience to ensure that clients obtain the very highest quality seismic data. Multi-client survey sales remain an important element within the company's overall services portfolio. Work is currently well underway on three surveys from the Far East, situated offshore Northern Australia, in the Exmouth plateau, Bonaparte and Browse basin areas.

Spectrum's ambitious new shareholders are eager to maximize potential from the robust seismic service market and seek both organic and corporate growth opportunities.
The new company has offices in UK, USA, Libya, Egypt, Pakistan, Argentina, Norway, Singapore, Trinidad and India and employs around 200 people. Each Spectrum geophysicist has an average of 15 years industry experience.