PGS ASA

Report Publication Announcement • Feb 28, 2018

Petroleum Geo-Services ASA: Board Approves IFRS Financial Statements for 2017

Petroleum Geo-Services ASA: Board Approves IFRS Financial Statements for 2017

February 28, 2018: Today the Board of Directors of Petroleum Geo-Services ASA

('PGS' or the 'Company') approved the 2017 annual financial statements prepared

in accordance with International Financial Reporting Standards ("IFRS").

The Company reported its IFRS unaudited fourth quarter and preliminary full year

2017 results on February 1, 2018. There were no changes to the consolidated

statements of profit and loss or the statements of financial position compared

to those presented on February 1, 2018.

The Company will make available an electronic version of the 2017 annual report

to shareholders at the latest four weeks before the Annual General Meeting

scheduled for April 25, 2018.

FOR DETAILS, CONTACT:

Bård Stenberg, SVP IR & Communication

Mobile:  +47 99 24 52 35

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.