PGS ASA

Annual / Quarterly Financial Statement • Mar 19, 2014

Petroleum Geo-Services ASA : Board Approves IFRS Financial Statements for 2013

Petroleum Geo-Services ASA : Board Approves IFRS Financial Statements for 2013

March 19, 2014: London, United Kingdom. The Board of Directors of Petroleum Geo-

Services ASA ('PGS' or the 'Company') has on March 19, 2014 approved the 2013

annual financial statements prepared in accordance with International Financial

Reporting Standards ("IFRS").

The Company reported its IFRS unaudited fourth quarter and preliminary full year

2013 results on February 13, 2014. There were no material changes to the

consolidated statements of operations or the statements of financial position

compared to those presented in the February earnings release.

The Board of Directors proposes a dividend of NOK 2.30 per share for 2013, to be

approved by the Annual General Meeting scheduled for May 8, 2014 at 15:00 CET.

The Company will make available an electronic version of the 2013 annual report

in April.

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

****

Petroleum Geo-Services is a focused marine geophysical company providing a broad

range of seismic and reservoir services, including acquisition, processing,

interpretation, and field evaluation. The company also possesses the world's

most extensive MultiClient data library. PGS operates on a worldwide basis with

headquarters at Lilleaker Oslo, Norway.

For more information on Petroleum Geo-Services visit www.pgs.com.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1770086]