LYSAKER (OSLO), NORWAY -- (Marketwire) -- 07/03/09 -- Petroleum Geo-Services ASA ('PGS' or the 'Company') routinely releases information about vessel utilization around the end of each quarter.

Summary of vessel utilization:

+-------------------------------------------------------------------+
| Approximate allocation of PGS     | Quarter ended | Quarter ended |
| total 3D towed streamer capacity  |   June 30,    |   March 31,   |
|-----------------------------------+---------------+---------------|
|                                   |  2009  | 2008 |     2009      |
|-----------------------------------+--------+------+---------------|
| Contract seismic                  |    46% |  70% |           77% |
|-----------------------------------+--------+------+---------------|
| MultiClient seismic               |    40% |  14% |            9% |
|-----------------------------------+--------+------+---------------|
| Steaming                          |     9% |  13% |            9% |
|-----------------------------------+--------+------+---------------|
| Yard                              |     5% |   3% |            5% |
|-----------------------------------+--------+------+---------------|
| Standby                           |     0% |   0% |            0% |
+-------------------------------------------------------------------+

MultiClient activity in Q2 2009 was predominantly done in Brazil and the North Sea. The high MultiClient activity in Q2 is in line with the Company's earlier announced plan for the year.

As previously announced PGS plans to release its Q2 2009 financial results on Thursday, July 23, 2009, at approximately 8:00 am Central European Time (CET).

FOR DETAILS, CONTACT:

Bård Stenberg
Investor Relations Manager
Phone: +47 67 51 43 16
Mobile: +47 99 24 52 35

US Investor Services
Phone: +1 281 509 8712

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 2008. 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.

Q2 Vessel allocation PDF: http://hugin.info/115/R/1326996/312536.pdf

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