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Petroleum Geo-Services ASA : Vessel Allocation Q1 2015

April 9, 2015:
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:

| Approximate allocation of PGS total 3D towed streamer capacity Quarter ended Quarter ended December 31, |
| March 31, |
| 2015 2014 2014 |
| Contract seismic 31% 36% 59% |
| MultiClient seismic 32% 47% 19% |
| Steaming 14% 13% 14% |
| Yard 5% 4% 4% |
| Stacked/Standby 18% 0% 4% |

PGS will release its Q1 2015 financial results on Thursday April 30, 2015, 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.

| Bård Stenberg, VP IR&Corporate Communications |
| |
|Mobile: +47 99 24 52 35 |

Petroleum Geo-Services is a focused marine geophysical company providing a
broad range of seismic and reservoir services, including acquisition,
imaging, interpretation, and field evaluation. The Company's MultiClient data
library is among the largest in the seismic industry, with modern 3D coverage
in all significant offshore hydrocarbon provinces of the world. PGS operates
on a worldwide basis with headquarters at Lilleaker, Oslo, Norway.

For more information on Petroleum Geo-Services


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 2013. 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
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.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Petroleum Geo-Services ASA via Globenewswire


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