PGS ASA

Report Publication Announcement • Dec 19, 2014

Petroleum Geo-Services ASA : Presentation Material Capital Markets Day 2014

Petroleum Geo-Services ASA : Presentation Material Capital Markets Day 2014

Today PGS holds its annual Capital Markets Day in Oslo, Norway. The event is

scheduled to start at 08:00am CET and the presentation material can be

downloaded from www.newsweb.no and www.pgs.com.

The Company's guidance for 2015 is as follows:

·EBITDA in the range of USD 550-700 million

·MultiClient cash investments of approximately USD 275-300 million

-Pre-funding level at or above 100%

·Capital expenditures of approximately USD 250 million

-Of which new build capex slightly below USD 150 million for Ramform Tethys and

Ramform Hyperion, both with new delivery dates in 2016

The event will be webcasted live and available for replay shortly after on

www.pgs.com

FOR DETAILS, CONTACT:

Bård Stenberg, VP IR & Corporate Communications

Phone:  +47 67 51 43 16

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.

[HUG#1881850]