PGS Closes Pertra Sale With Talisman

PGS Closes Pertra Sale With Talisman 


OSLO, Norway, March 1  /PRNewswire-FirstCall/ -- Petroleum Geo-Services ASA
("PGS" or the "Company") (OSE:andOSE:NYSE:OSE:PGS) announced today that it has
closed the previously announced sale of its wholly-owned oil subsidiary, Pertra
AS, to Talisman Energy (UK) Limited, a wholly owned subsidiary of Talisman
Energy Inc. The transaction was closed under the same terms and conditions
previously described in the press release of February 1, 2005 and the quarterly
report dated February 25, 2005.

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). 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.

   FOR DETAILS, CONTACT:
   Ola Bosterud
   Sam R. Morrow
   Phone:  [phone]

   US Investor Services,
   Renee Sixkiller,
   Phone: [phone]


DATASOURCE: Petroleum Geo-Services ASA



CONTACT:  Ola Bosterud, or Sam R. Morrow, [phone], or US Investor

Services: Renee Sixkiller, [phone], all for Petroleum Geo-Services

ASA



Web site:  http://www.pgs.com/ 

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