PGS ASA

Report Publication Announcement • Jan 8, 2014

Petroleum Geo-Services ASA : Vessel Allocation Q4 2013

Petroleum Geo-Services ASA : Vessel Allocation Q4 2013

January 8, 2014: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the

'Company') routinely releases information about 3D vessel utilization after the

end of each quarter.

Summary of vessel utilization:

+--------------------------------------+-----------+---------------------------+

|  |   |Quarter ended September 30,|

|Approximate allocation of PGS total | Quarter | |

|3D towed streamer capacity | ended | |

| | December | |

| | 31, | |

+--------------------------------------+-----+-----+---------------------------+

|  |2013 |2012 | 2013 |

+--------------------------------------+-----+-----+---------------------------+

|Contract seismic | 41%| 47%| 37%|

+--------------------------------------+-----+-----+---------------------------+

|MultiClient seismic |46%  | 28%| 57%|

+--------------------------------------+-----+-----+---------------------------+

|Steaming | 11%| 17%| 5%|

+--------------------------------------+-----+-----+---------------------------+

|Yard | 2%| 8%| 1%|

+--------------------------------------+-----+-----+---------------------------+

|Standby | 0%| 0%| 0%|

+--------------------------------------+-----+-----+---------------------------+

The low-end 6-streamer vessel Pacific Explorer is included in the vessel

allocation with 20 days before it was converted to a source vessel for the

Triton Full Azimuth survey in the Gulf of Mexico

PGS will release its Q4 2013 financial results on Thursday February 13, 2014, at

approximately 8:00 am Central European Time (CET). A corresponding presentation,

webcast and conference call are scheduled for 9:00 am CET the same day, followed

by an additional conference call at 3:00 pm CET.

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.

****

The information included herein contains certain forward-looking statements that

address activities, events or developments that the Company expects, projects,

believes or anticipates will or may occur in the future. These statements are

based on various assumptions made by the Company, which are beyond its control

and are subject to certain additional risks and uncertainties. The Company is

subject to a large number of risk factors including but not limited to the

demand for seismic services, the demand for data from our multi-client data

library, the attractiveness of our technology, unpredictable changes in

governmental regulations affecting our markets and extreme weather conditions.

For a further description of other relevant risk factors we refer to our Annual

Report for 2012. As a result of these and other risk factors, actual events and

our actual results may differ materially from those indicated in or implied by

such forward-looking statements. The reservation is also made that inaccuracies

or mistakes may occur in the information given above about current status of the

Company or its business. Any reliance on the information above is at the risk of

the reader, and PGS disclaims any and all liability in this respect.

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