Petroleum Geo-Services ASA: Vessel Allocation Q4 2016

January 3, 2017: Oslo, Norway, PGS routinely releases information about 3D
vessel utilization after the end of each quarter.

Summary of vessel utilization:

+--------------------------------------+-----------+---------------------------+
|Approximate allocation of PGS operated|   |Quarter ended September 30,|
|3D towed streamer capacity | Quarter | |
| | ended | |
| | December | |
| | 31, | |
+--------------------------------------+----+------+---------------------------+
|  |2016| 2015 | 2016 |
+--------------------------------------+----+------+---------------------------+
|Contract seismic | 25%| 40%| 33%|
+--------------------------------------+----+------+---------------------------+
|MultiClient seismic |27% | 33%| 45%|
+--------------------------------------+----+------+---------------------------+
|Steaming | 15%| 9%| 10%|
+--------------------------------------+----+------+---------------------------+
|Yard | 4%| 8%| 2%|
+--------------------------------------+----+------+---------------------------+
|Stacked/Standby | 29%| 10%| 10%|
+--------------------------------------+----+------+---------------------------+

The Q4 2016 vessel allocation includes the warm-stacked* vessel Ramform
Vanguard. All cold-stacked* vessels are excluded from the statistics.

PGS will release its Q4 2016 financial results on Thursday February 16, 2017, at
approximately 8:00 am Central European Time (CET). A corresponding presentation
and conference call is scheduled for 9:00 am CET the same day, followed by an
additional conference call at 3:00 pm CET.

 *) The term "cold-stacked" is used when a vessel is taken out of operation for
an extended period of time. Costs are reduced to a minimum, with the vessel
preserved for a long idle time, all or most in-sea seismic equipment is removed
from the vessel, and typically the crew required to operate the vessel is
terminated. Use of the term "warm-stacked" means that the vessel is temporarily
taken out of operation with streamers and all other equipment necessary to
perform seismic operation still onboard the vessel and the crew required to
operate the vessel available or can be sourced with limited delay.

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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 visit www.pgs.com.

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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 2015. 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 to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.