Petroleum Geo-Services ASA: Mnadatory Notification

January 9, 2017: In the subsequent offering announced by Petroleum Geo-Services ASA ("PGS" or "the Company") Espen Grimstad Senior Navigation Specialist and employee elected Board Member in PGS was allocated and subsequently purchased 134 shares at a price of NOK 22.50 per share. Following the transaction Espen Grimstad owns 917 shares in PGS.

Bjørn Håkon Lund, the husband of Berit Osnes, Senior Vice President MultiClient and employee elected Board Member in PGS was allocated and subsequently purchased 309 shares at a price of NOK 22.50 per share. Following the transaction Bjørn Håkon Lund owns 2 108 shares in PGS.

Berit Osnes, Senior Vice President MultiClient  and employee elected Board Member in PGS was allocated and subsequently purchased 2 243 shares at a price of NOK 22.50 per share. Following the transaction Berit Osnes owns 15 186 shares in PGS.

Kai Reith, Vice President Corporate Development in PGS was allocated and subsequently purchased 691 shares at a price of NOK 22.50 per share. Following the transaction Kai Reith owns 4 691 shares in PGS.

Bård Stenberg, Vice President IR & Corporate Communications in PGS was allocated and subsequently purchased 677 shares at a price of NOK 22.50 per share. Following the transaction Bård Stenberg owns 4 586 shares in PGS.

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