Petroleum Geo-Services ASA : Exercise of employee share options

1.      Employees in PGS have on October 31, 2013 exercised a total number of
48 558 options. Following the exercise, 48 558 shares will be transferred from
Petroleum Geo-Services holding of own shares.

Subsequent to the transaction Petroleum Geo-Services ASA holds 2 658 671 own
shares.


2.  Options exercised by the following primary insider on October 31, 2013:

Dakin, David J. has exercised 8 334 options in the Company, corresponding to
8 334 shares at the strike price of NOK 39.19.


3.  Transfer of rights

On October 31, 2013, the primary insider mentioned below transferred the rights
to receive shares resulting from the exercise of options to a third party. The
payment was determined based on a selling price of NOK 72,2214  per right.

Dakin, David J. transferred 8 334 rights.


4.  New holding

After exercising options, Dakin, David J. holds 10 000 unexercised options in
the Company, corresponding to 10 000 shares at the strike price of NOK
77.29, 10 000 unexercised options in the Company, corresponding to 10 000 shares
at the strike price of NOK 76.02 and 5 950 restricted share units in the
Company.
As of today the primary insider holds 3 831 shares in the company.


FOR FURTHER DETAILS, PLEASE 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






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