PGS Update on Pertra Status

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: [phone]
             Suzanne M. McLeod
             Phone: [phone]


DATASOURCE: Petroleum Geo-Services ASA



CONTACT:  Ola Bosterud or Sam R. Morrow, Phone: [phone]; or Suzanne

M. McLeod, Phone: [phone], both for Petroleum Geo-Services ASA



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

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