PGS ASA

Petroleum Geo-Services ASA : PGS Announces 4th Annual MultiClient Program Offshore Canada

OSLO (May 7 2014) - PGS expands its MultiClient library offshore Eastern Canada

in 2014 with a further 30,000 km of 2D seismic data, in the Labrador Sea and

Newfoundland Flemish Pass.

In June 2014 the M/V Sanco Spirit, will start seismic and gravity data

acquisition using the multi-sensor PGS GeoStreamer® technology, in the Labrador

Sea and Northeast Newfoundland-Flemish Pass areas. This project will provide

valuable data covering the areas soon to be disclosed in the Sector

Identification announcement by Canada's Newfoundland and Labrador Offshore

Petroleum Board (C-NLOPB) for which a Call for Bids will take place as part of

the new land tenure system announced to the industry on 19 December 2013.

This is our fourth acquisition season offshore Eastern Canada. This new data

will complement PGS' existing 47,600 km of 2D data acquired during 2011, 2012

and 2013 in this region.

The survey is being carried out in cooperation with TGS who will perform the

data processing. Final data will be available to clients Q3 2015.

In July the M/V Atlantic Explorer, also utilizing the PGS GeoStreamer®

technology, will commence acquisition of seismic and gravity data in the Tail of

the Bank area of Southeast Grand Banks. The Southeast Grand Banks 2D covers an

initial 15,000 km, where it is expected the C-NLOPB will announce future AOIs.

Once again processing of the GeoStreamer data will be performed by TGS and final

data will be available to clients Q3 2015.

"This year we have doubled our commitment to Eastern Canada with two

simultaneous GeoStreamer acquisition programs in Newfoundland-Labrador, as

recent finds have rendered this region one of the world's most exciting

exploration frontiers. We have already seen that GeoStreamer technology is ideal

for Eastern Canada. This summer we are building further on our 2012 and 2013

programs in the Labrador Sea and the Flemish Pass, as these are particular areas

of current interest both for oil companies and the provincial government,"

commented Jerry Witney, PGS Vice President North America MultiClient.

Both of these projects have industry support.

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

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1783303]

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