Petroleum Geo-Services ASA : Petroleum Geo-Services ASA : Share purchase by primary insiders

 Petroleum Geo-Services ASA : Petroleum Geo-Services ASA : Share purchase by
                               primary insiders

March 21, 2013: Oslo, Norway, Petroleum Geo-Services ASA ('PGS' or the
'Company') had a 2012 Bonus Incentive Plan, under which certain employees
received a regular cash bonus and a cash bonus earmarked for share purchase.
Of the cash bonus earmarked for share purchase, the net amount (after
withholding taxes) must be used to purchase shares at the prevailing market
prices.

The purchases by the primary insiders as disclosed below, were made as part of
the respective primary insider`s obligation to purchase shares under the 2012
Bonus Incentive Plan.

Jon Erik Reinhardsen, President & Chief Executive Officer of Petroleum
Geo-Services ASA, has on March 20, 2013 bought 12 114 shares in Petroleum Geo-
Services ASA at a price of NOK 90.61 per share. Following the transaction Jon
Erik Reinhardsen holds 90 000 unexercised options in the Company,
corresponding to 90 000 shares at the strike price of NOK 131.95, 75 000
unexercised options in the Company, corresponding to 75 000 shares at the
strike price of NOK 77.29, 75 000 unexercised options in the Company,
corresponding to 75 000 shares at the strike price of NOK 76.02, 100 000
unexercised options in the Company, corresponding to 100 000 shares at the
strike price of NOK 39.19 and 30 000 restricted share units in the Company. As
of today the primary insider holds 87 389 shares in the Company.

Gottfred Langseth, Executive Vice President & CFO of Petroleum Geo-Services
ASA, has on March 20, 2013 bought 5 479 shares in Petroleum Geo-Services ASA
at a price of NOK 90.61 per share. Following the transaction Gottfred Langseth
holds 90 000 unexercised options in the Company, corresponding to 90 000
shares at the strike price of NOK 131.95, 45 000 unexercised options in the
Company, corresponding to 45 000 shares at the strike price of NOK 77.29, 45
000 unexercised options in the Company, corresponding to 45 000 shares at the
strike price of NOK 76.02, 60 000 unexercised options in the Company,
corresponding to 60 000 shares at the strike price of NOK 39.19 and 18 000
restricted share units in the Company. As of today the primary insider holds
36 190 shares in the Company.

Sverre L. Strandenes, Executive Vice President MultiClient of Petroleum
Geo-Services ASA, has on March 20, 2013 bought 4 784 shares in Petroleum
Geo-Services ASA at a price of NOK 90.61 per share. Following the transaction
Sverre L. Strandenes holds 90 000 unexercised options in the Company,
corresponding to 90 000 shares at the strike price of NOK 131.95, 45 000
unexercised options in the Company, corresponding to 45 000 shares at the
strike price of NOK 77.29, 45 000 unexercised options in the Company,
corresponding to 45 000 shares at the strike price of NOK 76.02, 30 000
unexercised options in the Company, corresponding to 30 000 shares at the
strike price of NOK 39.19 and 19 000 restricted share units in the Company. As
of today the primary insider holds 16 746 shares in the Company.

Per Arild Reksnes, Executive Vice President Marine Contract of Petroleum
Geo-Services ASA, has on March 20, 2013 bought 4 878 shares in Petroleum
Geo-Services ASA at a price of NOK 90.61 per share. Following the transaction
Per Arild Reksnes holds 60 000 unexercised options in the Company,
corresponding to 60 000 shares at the strike price of NOK 131.95, 45 000
unexercised options in the Company, corresponding to 45 000 shares at the
strike price of NOK 77.29, 45 000 unexercised options in the Company,
corresponding to 45 000 shares at the strike price of NOK 76.02, 20 000
unexercised options in the Company, corresponding to 20 000 shares at the
strike price of NOK 39.19 and 18 000 restricted share units in the Company. As
of today the primary insider holds 14 791 shares in the Company.

Guillaume Cambois, Executive Vice President Data Processing and Technology of
Petroleum Geo-Services ASA, has on March 20, 2012 bought 4 878 shares in
Petroleum Geo-Services ASA at a price of NOK 90.61 per share. Following the
transaction Guillaume Cambois holds 45 000 unexercised options in the Company,
corresponding to 45 000 shares at the strike price of NOK 131.95, 45 000
unexercised options in the Company, corresponding to 45 000 shares at the
strike price of NOK 77.29, 45 000 unexercised options in the Company,
corresponding to 45 000 shares at the strike price of NOK 76.02, 20 000
unexercised options in the Company, corresponding to 20 000 shares at the
strike price of NOK 39.19 and 18 000 restricted share units in the Company. As
of today the primary insider holds 9 038 shares in the Company.

Magne Reiersgard, Executive Vice President Operations of Petroleum
Geo-Services ASA, has on March 20, 2013 bought 6 250 shares in Petroleum
Geo-Services ASA at a price of NOK 90.61 per share. Following the transaction
Magne Reiersgard holds 60 000 unexercised options in the Company,
corresponding to 60 000 shares at the strike price of NOK 131.95, 45 000
unexercised options in the Company, corresponding to 45 000 shares at the
strike price of NOK 77.29, 45 000 unexercised options in the Company,
corresponding to 45 000 shares at the strike price of NOK 76.02, 20 000
unexercised options in the Company, corresponding to 20 000 shares at the
strike price of NOK 39.19 and 18 000 restricted share units in the Company. As
of today the primary insider holds 17 427 shares in the Company.

Rune Olav Pedersen, General Counsel of Petroleum Geo-Services ASA, has on
March 20, 2013 bought 4 783 shares in Petroleum Geo-Services ASA at a price of
NOK 90.61 per share. Following the transaction Rune Olav Pedersen holds 100
000 unexercised options in the Company, corresponding to 100 000 shares at the
strike price of NOK 78.01, 20 000 unexercised options in the Company,
corresponding to 20 000 shares at the strike price of NOK 76.02, and 8 000
restricted share units in the Company. As of today the primary insider holds 7
188 shares in the Company.

Terje Bjølseth, Senior Vice President Global HR of Petroleum Geo-Services ASA,
has on March 20, 2013 bought 2 759 shares in Petroleum Geo-Services ASA at a
price of NOK 90.61 per share. Following the transaction Terje Bjølseth holds
40 000 unexercised options in the Company, corresponding to 40 000 shares at
the strike price of NOK 131.95, 20 000 unexercised options in the Company,
corresponding to 20 000 shares at the strike price of NOK 77.29, 20 000
unexercised options in the Company, corresponding to 20 000 shares at the
strike price of NOK 76.02, 25 000 unexercised options in the Company,
corresponding to 25 000 shares at the strike price of NOK 39.19 and 8 000
restricted share units in the Company. As of today the primary insider holds 8
568 shares in the Company.

Tore D. Langballe, Senior Vice President Corporate Communications of Petroleum
Geo-Services ASA, has on March 20, 2013 bought 3 035 shares in Petroleum
Geo-Services ASA at a price of NOK 90.61 per share. Following the transaction
Tore D. Langballe holds 40 000 unexercised options in the Company,
corresponding to 40 000 shares at the strike price of NOK 131.95, 20 000
unexercised options in the Company, corresponding to 20 000 shares at the
strike price of NOK 77.29, 20 000 unexercised options in the Company,
corresponding to 20 000 shares at the strike price of NOK 76.02, and 8 000
restricted share units in the Company. As of today the primary insider holds 7
107 shares in the Company.

Jostein Ueland, Senior Vice President Business Development of Petroleum
Geo-Services ASA, has on March 20, 2013 bought 2 870 shares in Petroleum
Geo-Services ASA at a price of NOK 90.61 per share. Following the transaction
Jostein Ueland holds 20 000 unexercised options in the Company, corresponding
to 20 000 shares at the strike price of NOK 77.29, 20 000 unexercised options
in the Company, corresponding to 20 000 shares at the strike price of NOK
76.02, and 8 000 restricted share units in the Company. As of today the
primary insider holds 4 879 shares in the Company.

 FOR DETAILS, CONTACT:

 Bård Stenberg, Investor Relations Manager
 Phone: +47 67 51 43 16
 Mobile: +4799 24 52 35

 Tore Langballe, SVP Corporate Communications
 Phone: +47 67 51 43 75
 Mobile: +4790 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.

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

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Source: Petroleum Geo-Services ASA via Thomson Reuters ONE
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