PGS ASA — Board/Management Information 2010

Apr 7, 2010

PGS Prepares Organization for Future Growth

PGS has emerged as a focused Marine Geophysical company, following the sale of

its Onshore business. A simplified operational model based on product lines

prepares the ground for future growth.

The new organization will consist of: Marine Contract, MultiClient, Data

Processing & Technology, New Ventures and Operations.

"With the new structure we aim to improve focus on the product lines and thereby

position the group for future growth." says Jon Erik Reinhardsen, CEO of PGS.

He continues:"The new organization will provide our customers with cutting-edge

solutions through our fleet of highly advanced seismic vessels and our leading

technologies."

The new organization will be effective as from May 1, 2010.

Marine Contract will offer proprietary acquisition services to our clients, and

remain the main revenue source of our future activities. The unit will be lead

by Rune Eng, currently Group President Marine.

A separate MultiClient organization will enable us to grow our core MultiClient

business. This unit will have more resources, dedicated management and be lead

by Sverre Strandenes, currently Group President Data Processing & Technology.

Data Processing & Technology will continue the focused growth and development,

under the leadership of Guillaume Cambois, currently President of PGS Marine

business in Asia Pacific.

The New Ventures business area will focus on developing and commercializing PGS

assets and manage long-term growth opportunities. Reservoir, EM and Optoseis

will be part of this organization, as well as a team exploring and developing

new business opportunities not covered by our current business models. Head of

this unit will be Per Arild Reksnes, currently President of PGS Marine business

in Europe, Africa and the Middle East.

Operations will continue to manage our fleet including renewal and growth.

Operations will be lead by Magne Reiersgard, currently President of PGS Marine

business in North & South America.

The heads of these business units will together with the CEO Jon Erik

Reinhardsen and CFO Gottfred Langseth form the Executive Management Team of PGS,

as of May 1, 2010.

FOR DETAILS, CONTACT:

Tore 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

US Investor Services

Phone: +1 281 509 8712

About PGS

Petroleum Geo-Services (PGS) offers a broad range of products including;

seismic and electromagnetic services, data acquisition, processing, reservoir

analysis/interpretation and multi-client library data. We help oil companies to

find oil and gas reserves offshore worldwide.

Overview

PGS was founded in Norway in 1991, with 2 seismic ships and some highly

innovative ideas on how to reshape the industry. Today we share the same drive

to innovate as inspired by our founders, though the team is bigger:

16 offshore seismic vessels

23   data processing centers

41 offices worldwide, employing 67 nationalities

PGS has offices in over 25 countries with regional centers in London, Houston

and Singapore. Our headquarters are in Oslo, Norway and the PGS share is listed

on the Oslo stock exchange (OSE:PGS).

Biographies of the members of the Executive Management Team

Jon Erik Reinhardsen

(born 1956) President and CEO

Mr. Reinhardsen joined PGS in April 2008 as President and Chief Executive

Officer. Prior to joining PGS, he was President, Global Primary Products

Growth in Alcoa. In this position he was responsible for developing and

implementing major primary metal and refining growth opportunities for the

company worldwide. Mr. Reinhardsen joined Alcoa from Norway-based Aker

Kvaerner ASA, an international contractor in the oil, gas, chemicals and

polymers industry. In Aker Kvaerner he was group executive vice president of

Aker Kvaerner ASA based in Houston, Texas, where he was responsible for all

contracting operations outside of Europe and product businesses worldwide.

Earlier in his career, Mr. Reinhardsen led the Aker Maritime ASA product

business in Norway, where he was involved in merger and acquisition

activities, new business development, marketing and sales, and investor

relations. He also led Aker's seismic venture Aker Geo that was later sold to

CGG. In June 2009 Mr. Reinhardsen was elected to the board of directors of

Cameron and he has been a member of the board of directors of Leif Höegh & Co.

Ltd since 2005.  Mr. Reinhardsen obtained a master`s degree in Applied

Mathematics and Geophysics from the University of Bergen, Norway. He completed

the International Executive Program in 1991 from the Institute for Management

Development (IMD) in Lausanne, Switzerland.

Gottfred Langseth

(born 1966) Executive Vice President and Chief Financial Officer

Mr. Langseth joined PGS in November 2003 and was named senior vice president

and chief financial officer January 1, 2004. He was chief financial officer at

the information technology company Ementor ASA from 2000 to 2003. Mr. Langseth

was senior vice president of finance and control at the offshore construction

company Aker Maritime ASA from 1997 to 2000. He served with Arthur Andersen

Norway from 1991 to 1997, qualifying as a Norwegian state authorized public

accountant in 1993. Mr. Langseth holds an MBA from the Norwegian School of

Economics and Business Administration.

Rune Eng

(born 1961) Executive Vice President  Marine Contract

Mr. Eng joined PGS in 1997and he has been Marine Group President since August

2004. Previous to this, he was manager for Scandinavia and from 2000 president

for the Europe, Africa and Middle East region. Prior to joining PGS, Mr. Eng

held various positions in the oil industry, principally in Fugro-Geoteam.

These included a board position in Sevoteam, a Russian-Norwegian joint

operating company involved in offshore seismic studies, and a senior

consultant position in Digital Equipment Computing (DEC)  promoting the use of

reservoir simulation in the Oil industry. Mr. Eng holds a BSc. in Applied

Geophysics from the University of Oslo, Norway and an MSc. in Petroleum

Prospecting from Chalmers University of Technology, Sweden

Sverre Strandenes

(born 1956) Executive Vice President MultiClient

Mr. Strandenes was appointed Group President, Data Processing and Technology

in November, 2006. He joined PGS in 1995 and has served in a number of key

management roles in technology, research, marketing and sales within the

group, including President Marine Geophysical EAME Region. Prior to joining

PGS, he was Manager of Geosciences with Norsk Hydro Research Centre. Mr.

Strandenes graduated with a Master's degree in Geophysics from the University

of Bergen in 1981.

Guillaume Cambois

(born 1964) Executive Vice President Data Processing and Technology

Mr. Cambois joined PGS in 2007. He started as senior advisor spearheading the

GeoStreamer technology deployment. From March 2009 he acted as Marine President

Asia-Pacific. Prior to joining PGS, Mr. Cambois spent 20 years with CGG where he

held various management positions including Executive Vice President Data

Processing and Chief Technology Officer. Mr. Cambois is an active member of the

Society of Exploration Geophysicists where he served as Vice President in

2007-2008. Mr. Cambois holds a Ph.D. in Geophysics from the University of Texas

at Austin.

Per Arild Reksnes

(born 1957) Executive Vice President New Ventures

Mr. Reksnes has been President for Europe, Africa, Middle East and CIS in PGS

Marine since January 2007. Previous to this he was President for Technology,

Vice President for Profiling and Marketing and Vice President Technical

Marketing. He joined PGS in 2001 from a position as Chief Professional in

Geophysics, Norsk Hydro. He worked 16 years for Norsk Hydro in various

geophysical and manager positions. Mr. Reksnes holds a Master's degree in

Applied Geophysics from the University of Oslo, and Master's degree in

Technology Management from MIT/NTH.

Magne Reiersgard

(born 1961) Executive Vice President Operations

Mr. Reiersgard joined PGS at the inception of the Company back in 1990/91. He

has served in a number of key management roles within the PGS group, most

notably as Vice President Marine Acquisition, President Marine Geophysical AP

Region based in Singapore and lastly as President Marine Geophysical NSA Region

based in Houston. Prior to joining PGS, Mr. Reiersgard held various management

positions within the survey division of Geoteam AS. Mr Reiersgard serves on the

Board of IAGC (International Association Geophysical Contractors), a position he

has held since 2005, and he served as Chairman of IAGC in 2006/2007. Mr.

Reiersgard holds an Electronics degree from Agder University College, Grimstad,

Norway and a business degree from BI Norwegian School of Management.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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