PGS Petroleum Geo Svcs Asa New

Gottfred Langseth, Executive Vice President & CFO of Petroleum Geo-Services ASA ("PGS" or "the Company"), has on July 30, 2014 bought 15 000 shares in PGS at a price of NOK 53.80 per share. Following the transaction, Gottfred Langseth owns 61 190 shares in PGS. Gottfred Langseth also holds 45 000 unexercised employee stock options in the Company, corresponding to 45 000 shares at the strike price of NOK 73.34, 45 000 unexercised options in the Company, corresponding to 45 000 shares at the strike price of NOK 72.07, and 64 500 restricted share units in the Company. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

HUG#1843391

CONTACT: Bard 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