PGS ASA

Regulatory Filings • May 18, 2015

Petroleum Geo-Services ASA - First Mover Offshore Mexico

Petroleum Geo-Services ASA - First Mover Offshore Mexico

May 18, 2015: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company')

commenced operations of a MultiClient 2D seismic program offshore Mexico on May

16(th). The two 2D vessels Atlantic Explorer and Sanco Spirit will acquire

multiple projects recently approved by the Mexican government. The first program

to be acquired is the Mexico Well Tie MC2D which will provide clients with an

excellent grounding for understanding the hydrocarbon prospectivity in the area.

Fast track products will be available in June 2015.

"PGS is proud to conduct its first commercial seismic acquisition project in

Mexico after approval of the Mexican Energy Reform," says Gregg Parker, Regional

President NSA MultiClient in PGS. "We have worked diligently to position the

Company as a first mover in Mexico and we are now very pleased to say that we

have been successful in our endeavor. PGS views Mexico as a viable investment

market for many years to come for the full suite of all our solutions."

These surveys will be acquired using PGS proprietary GeoStreamer technology and

are supported by industry pre-funding.

FOR DETAILS, CONTACT:

Bård Stenberg, VP IR & Corporate Communications

Mobile:  +47 99 24 52 35

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Petroleum Geo-Services ("PGS" or "the Company") is a focused Marine geophysical

company that provides a broad range of seismic and reservoir services, including

acquisition, imaging, interpretation, and field evaluation. The Company's

MultiClient data library is among the largest in the seismic industry, with

modern 3D coverage in all significant offshore hydrocarbon provinces of the

world. The Company operates on a worldwide basis with headquarters in Oslo,

Norway.

For more information on Petroleum Geo-Services visit www.pgs.com.

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The information included herein contains certain forward-looking statements that

address activities, events or developments that the Company expects, projects,

believes or anticipates will or may occur in the future. These statements are

based on various assumptions made by the Company, which are beyond its control

and are subject to certain additional risks and uncertainties. The Company is

subject to a large number of risk factors including but not limited to the

demand for seismic services, the demand for data from our multi-client data

library, the attractiveness of our technology, unpredictable changes in

governmental regulations affecting our markets and extreme weather conditions.

For a further description of other relevant risk factors we refer to our Annual

Report for 2014. As a result of these and other risk factors, actual events and

our actual results may differ materially from those indicated in or implied by

such forward-looking statements.The reservation is also made that inaccuracies

or mistakes may occur in the information given above about current status of the

Company or its business. Any reliance on the information above is at the risk of

the reader, and PGS disclaims any and all liability in this respect.

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This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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