PGS ASA

Transaction in Own Shares • Aug 22, 2014

Purchase of own shares

Purchase of own shares

August 22, 2014, Oslo, Norway - Petroleum Geo-

Services ASA ("PGS" or the "Company")(OSE;PGS)

announces that PGS purchased today 323.000 own

shares in the open market at an average price of NOK

48,0581 per share. Following the transaction PGS holds

a total of 3.685.019 own shares. The shares are

purchased to be used in PGS' share based incentive

programs.

For details, contact:

Bård Stenberg, Investor Relations Manager

Phone: +47 67 51 43 16

Mobile: +47 99 24 52 35

Tore Langballe, SVP Corporate Communications

Phone: +47 67 51 43 75

Mobile: +47 90 77 78 41