Settlement of a part of the 2014 RSU Program

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1. Settlement

A part of the 2014 Restricted Stock Unit ("RSU") program settled on December 19, 2017. Employees in Petroleum Geo-Services ASA and subsidiaries ("PGS" or "the Company") have received a total number of 20 000 shares. Following the transaction, 20 000 shares will be transferred from the Company's holding of own shares at a price of NOK 15.62 per share.

Subsequent to the transaction Petroleum Geo-Services ASA holds 7 888 own shares.

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

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You are welcome to send us an email or call Bård Stenberg VP IR & Corporate Communications: +47 992 45 235