PGS ASA

Remuneration Information • Jun 10, 2014

Petroleum Geo-Services ASA : Mandatory notification of trade

Petroleum Geo-Services ASA : Mandatory notification of trade

June 10, 2014: Oslo, Norway.

The 2014 Performance Based Restricted Stock Unit Plan, as approved by the Annual

General Meeting on May 8th 2014, has now been implemented by allocating 692 000

restricted stock units (PRSUs). The complete terms and conditions of the

Performance Based Restricted Stock Unit Plan are described in the calling notice

for the 2014 Annual General Meeting. The Board of Directors has now decided on

the individual allocation which includes 234 employees.

The awards are based on amongst other considerations the position in the Company

and a review on the individual participant's performance prior to award. Any

PRSU awarded will, subject to the participant's continued employment with the

Company (or a subsidiary), be settled three years after grant. Upon settlement,

the participant will receive a number of shares in the Company which equals the

number of PRSUs awarded.

Delivery of shares will take place from the Company's pool of treasury shares

or, if an insufficient number of treasury shares exists, be settled by cash

payment of an equivalent value.

The purpose of the Performance Based Restricted Stock Unit Plan is to further

the interests of PGS, its subsidiaries and its shareholders by providing

incentives in the form of awards to employees who can contribute materially to

the success and profitability of PGS. Such awards will recognize and reward

performance and individual contributions and give participants in the plan an

interest in the Company parallel to that of the shareholders, thus enhancing the

proprietary and personal interest in PGS' continued success and progress.

The Board of Directors has allocated PRSUs according to the plan to the

following primary insiders in PGS:

Terje Bjølseth, Senior Vice President Global Human Resources, has been awarded

9 600 PRSUs. Following the award, Bjølseth holds 8 568 shares in PGS, 28 660

PRSUs, and 40 000 stock options.

Guillaume Cambois, Executive Vice President Data Processing & Technology, has

been awarded 21 600 PRSUs. Following the award, Cambois holds 29 038 shares in

PGS, 64 500 PRSUs, and 90 000 stock options.

David J Dakin, Chief Accounting Officer, has been awarded 3 000 PRSUs. Following

the award, Dakin holds 3 831 shares in PGS, 8 950 PRSUs, and 20 000 stock

options.

Tore D Langballe, Senior Vice President Corporate Communications, has been

awarded 9 600 PRSUs. Following the award, Langballe holds 7 107 shares in PGS,

28 660 PRSUs, and 40 000 stock options.

Gottfred Langseth, Executive Vice President & CFO, has been awarded 21 600

PRSUs. Following the award, Langseth holds 46 190 shares in PGS, 64 500 PRSUs,

and 90 000 stock options.

Joanna Oustad, Senior Vice President HSEQ, has been awarded 9 600 PRSUs.

Following the award, Oustad holds 10 161 shares in PGS, 28 660 PRSUs, and

10 000 stock options.

Rune Olav Pedersen, General Counsel, has been awarded 9 600 PRSUs. Following the

award, Pedersen holds 7 188 shares in PGS, 28 660 PRSUs, and 120 000 stock

options.

Magne Reiersgård, Executive Vice President Operations, has been awarded 21 600

PRSUs. Following the award, Reiersgård holds 17 427 shares in PGS, 64 500 PRSUs,

and 90 000 stock options.

Jon Erik Reinhardsen, President & CEO, has been awarded 36 000 PRSUs. Following

the award, Reinhardsen holds 137 389 shares in PGS, 107 500 PRSUs, and 150 000

stock options.

Per Arild Reksnes, Executive Vice President Marine Contract, has been awarded

21 600 PRSUs. Following the award, Reksnes holds 14 791 shares in PGS, 64 500

PRSUs, and 90 000 stock options.

Christin Steen-Nilsen, Corporate Controller, has been awarded 2 700 PRSUs.

Following the award, Steen-Nilsen holds 4 143 shares in PGS, 7 450 PRSUs, and

11 000 stock options.

Bård Stenberg, Investor Relations Manager, has been awarded 2 350 PRSUs.

Following the award, Stenberg holds 1 216 shares in PGS, 7 100 PRSUs, and 9 000

stock options.

Sverre L Strandenes, Executive Vice President MultiClient, has been awarded

21 600 PRSUs. Following the award, Strandenes holds 16 746 shares in PGS,

65 500 PRSUs, and 90 000 stock options.

Jostein Ueland, Senior Vice President Business Development has been awarded

9 600 PRSUs. Following the award, Ueland holds 4 879 shares in PGS, 28 660

PRSUs, and 40 000 stock options.

Further details on remuneration of management are described in the annual report

for 2013.

FOR DETAILS, PLEASE CONTACT:

Tore D Langballe, SVP Corporate Communications

Phone:  +47 67 51 43 75

Mobile: +47 90 77 78 41

Bård Stenberg, Investor Relations Manager

Phone:   +47 67 51 43 16

Mobile:  +47 99 24 52 35

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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