(repeating to amend typographical error in headline)
HELSINKI (Thomson Financial) - Petroleum Geo-Services ASA has rejected as
"totally unfounded" a $70 million claim against one of its subsidiaries by
French-U.S. competitor CGGVeritas.
In a statement, PGS said CGGVeritas claims to have made a binding agreement
with PGS unit Arrow Seismic ASA for a charter and purchase of a seismic vessel
being built in Spain.
"PGS' position is that neither Arrow nor any subsidiary of Arrow was
bound by any agreement with CGGVeritas at the time PGS purchased Arrow," the
statement said.
james.etheridge@thomsonreuters.com
je/slm
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