PGS Petroleum Geo Svcs Asa New

PGS Update on Pertra Status OSLO, Norway, Jan. 13 /PRNewswire-FirstCall/ -- Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE:PGS)(NYSE:PGS) announced today that the Company's Board of Directors has discussed the strategic alternatives for its wholly-owned oil subsidiary Pertra. The Company is still in discussions with the different interested parties and expects to reach a decision in the near future. Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units (FPSOs) and owns a small oil and gas company. PGS operates on a worldwide basis with headquarters at Lysaker, Norway. For more information on Petroleum Geo- Services visit http://www.pgs.com/. The information included herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 as disclosed by the Company in its filings with the Securities and Exchange Commission including the Company's most recent Annual Report on Form 20-F for the year ended December 31, 2003. As a result of these factors, actual events may differ materially from those indicated in or implied by such forward-looking statements. Contact: Ola Bosterud Sam R. Morrow Phone: +47 6752 6400 Suzanne M. McLeod Phone: +1 281-589-7935 DATASOURCE: Petroleum Geo-Services ASA CONTACT: Ola Bosterud or Sam R. Morrow, Phone: +47-6752-6400; or Suzanne M. McLeod, Phone: +1-281-589-7935, both for Petroleum Geo-Services ASA Web site: http://www.pgs.com/

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