Mandatory Notification of Trade

November 23, 2016: In the private placement announced by Petroleum Geo-Services ASA ('PGS' or the 'Company') on November 22, 2016, PGS' President & CEO and the other Executive Vice Presidents of the Company have subscribed for shares to maintain their pro rata ownership post the transaction.

 
Jon Erik Reinhardsen, President & CEO in PGS has on November 22, 2016 bought 81 685 shares in the Company at a price of NOK 22.50. Following the transaction Jon Erik Reinhardsen owns 310 574 shares in PGS.
 
Gottfred Langseth, Executive Vice President & CFO in PGS has on November 22, 2016 bought 33 799 shares in the Company at a price of NOK 22.50. Following the transaction Gottfred Langseth owns 128 506 shares in PGS.
 
Rune Olav Pedersen, Executive Vice President & General Counsel in PGS has on November 22, 2016 bought 6 054 shares in the Company at a price of NOK 22.50. Following the transaction Rune Olav Pedersen owns 23 017 shares in PGS
 
Sverre Strandenes, Executive Vice President MultiClient in PGS has on November 22, 2016 bought 14 103 shares in the Company at a price of NOK 22.50. Following the transaction Sverre Strandenes owns 53 621 shares in PGS
 
Magne Reiersgård, Executive Vice President Marine Contract in PGS has on November 22, 2016 bought 12 194 shares in the Company at a price of NOK 22.50. Following the transaction Magne Reiersgård owns 46 363 shares in PGS
 
Guillaume Cambois, Execitive Vice President Imaging & Engineering in PGS has on November 22, 2016 bought 38 741 shares in the Company at a price of NOK 22.50. Following the transaction Guillaume Cambois owns 147 296 shares in PGS
 
Per Arild Reksnes, Executive Vice President Operations in PGS has on November 22, 2016 bought 12 761 shares in the Company at a price of NOK 22.50. Following the transaction Per Arild Reksnes owns 48 518 shares in PGS
 
Terje Bjølseth, Senior Vice President Human Resources in PGS has on November 22, 2016 bought 9 860 shares in the Company at a price of NOK 22.50. Following the transaction Terje Bjølseth owns 37 488 shares in PGS
 
Joanna Oustad, Senior Vice President HSEQ in PGS has on November 22, 2016 bought 12 213 shares in the Company at a price of NOK 22.50. Following the transaction Joanna Oustad owns 46 434 shares in PGS

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