Organizational adjustments

Lysaker November 16, 2010.

Following the resignation of Mr. Rune Eng, announced on November 3, PGS today

announces organizational adjustments accordingly:

Executive Vice President (EVP) Per Arild Reksnes, currently head of PGS'

Business Area New Ventures will take over the position as EVP Marine Contract.

The Business Areas Marine Contract, Operations, MultiClient and Data Processing

& Technology will operate as per today.

The Business Units within the current New Ventures organization will be part of

the Business Areas above:

· Commercialization will become a part of Marine Contract.

· Reservoir will join MultiClient.

· PGS Equity will be a part of MultiClient

The new organization will be effective as from December 6, 2010.

Per Arild Reksnes

(born 1957) Executive Vice President

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.

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

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

(Norwegian Securities Trading Act)

[HUG#1463088]

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