PGS ASA

Transaction in Own Shares • Mar 31, 2014

Purchase of own shares

Purchase of own shares

March 31, 2014, Oslo, Norway - Petroleum Geo-

Services ASA ("PGS" or the "Company") announces that

PGS purchased today 200.000 own shares in the open

market

at an average price of NOK 71,7384 per share.

Following the transaction PGS holds

a total of 3.327.000 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