Vessel Allocation Q2 2010

July 5, 2010: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the 'Company')
routinely releases information about vessel utilization around the end of each
quarter.

Summary of vessel utilization:

+------------------------------------------+-----------+-----------------------+
| | |Quarter ended March 31,|
|Approximate allocation of PGS total 3D | Quarter | |
|towed streamer capacity | ended | |
| | June 30, | |
+------------------------------------------+-----+-----+-----------------------+
| |2010 |2009 | 2010 |
+------------------------------------------+-----+-----+-----------------------+
|Contract seismic | 46%| 46%| 59%|
+------------------------------------------+-----+-----+-----------------------+
|MultiClient seismic | 31%| 40%| 33%|
+------------------------------------------+-----+-----+-----------------------+
|Steaming | 19%| 9%| 7%|
+------------------------------------------+-----+-----+-----------------------+
|Yard | 4%| 5%| 1%|
+------------------------------------------+-----+-----+-----------------------+
|Standby | 0%| 0%| 0%|
+------------------------------------------+-----+-----+-----------------------+

The vessel statistics for the second quarter 2010 includes the new vessel PGS
Apollo, which started seismic acquisition mid May and Ramform Sterling, which
entered the fleet mid July 2009. The second quarter 2010 vessel statistics
excludes Nordic Explorer, which was converted to a 2D/source vessel mid July
2009 and Ocean Explorer, which was converted to a 2D/source vessel end September
2009. Orient Explorer was returned to the vessel owner as the charter expired by
year-end 2009.

PGS will release its Q2 2010 financial results on Thursday, July 29, 2010, at
approximately 8:00 am Central European Time (CET).

FOR DETAILS, CONTACT:

Bård Stenberg, Investor Relations Manager
Mobile: +47 99 24 52 35

Tore Langballe, SVP Corporate Communications
Phone: +47 67 51 43 75
Mobile: +47 90 77 78 41

****
Petroleum Geo-Services is a focused 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 www.pgs.com.

****
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 2009. 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 acc. to §5-12 vphl
(Norwegian Securities Trading Act)

[HUG#1429479]