Petroleum Geo-Services ASA : Vessel Allocation Q4 2012

Thu Jan 3, 2013 1:54am EST

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January 3, 2013: 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 September 30,  
                                                                   December 31,                                 
                                                                   2012     2011               2012             
 Contract seismic                                                     47%      67%                          46% 
 MultiClient seismic                                                  28%       8%                          42% 
 Steaming                                                             17%      18%                          11% 
 Yard                                                                  8%       7%                           1% 
 Standby                                                               0%       0%                           0% 

PGS will release its Q4 financial results on Thursday February 14, 2013, at approximately 8:00 am
Central European Time (CET). A corresponding presentation, webcast and conference call is
scheduled for 9:00 am CET, followed by a 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                     


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 multi-client data library. PGS operates on a
worldwide basis with headquarters at Lysaker, Norway.

For more information on Petroleum Geo-Services visit .

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 2011. 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.


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


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Source: Petroleum Geo-Services ASA via Thomson Reuters ONE