PGS Second Quarter Results Presentation and Webcast Details

July 14, 2006: OSLO, NORWAY - Petroleum Geo-Services ASA (PGS) will as previously announced release its 2006 second quarter financial results on Thursday, July 27, 2006 at approximately 8:00 am Central European Time (CET).

A presentation has been scheduled the same day at 9:00 am (CET) at PGS’ Headquarters at Lysaker, Norway.

A webcast and conference call have also been scheduled that same day at 3:00 pm CET (9:00 am ET), to discuss PGS’ second quarter results. The contact details for this service are detailed below.

The news release concerning the 2006 second quarter financial results and a corresponding slide presentation will be posted at Petroleum Geo-Services’ web site at www.pgs.com. Interested parties can listen to the conference call and management’s remarks to the slide presentation over the Internet or by telephone.

To participate on the simulcast of the conference call over the Internet, please visit PGS’ web site, www.pgs.com, at least 15 minutes early, to register and to download and install any necessary audio software.

Alternatively, to access the live broadcast of the conference call by telephone, please dial-in at the number provided below, corresponding to your location:

Location

Dial-In Number
Toll free Norway:

+47-80080119
International:

+47-23000400


The telephone will be open for questions at the conclusion of management’s remarks.

For those that cannot listen to the live conference call, a replay of the webcast will be made available at PGS’ website, www.pgs.com. Alternatively, a digital replay will be available shortly after the conclusion of the conference call, through Thursday, July 27, 2006 at +47-67894091, account number: 1270 followed by # (pound-sign) press1, conference number: 270 followed by # (pound sign) press 1 to play.

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Petroleum Geo-Services is a focused geophysical company providing a broad range of seismic and reservoir services, including acquisition, processing, interpretation, and field evaluation. The company also possesses the world’s most extensive multi-client data library. PGS operates on a worldwide basis with headquarters at Lysaker, Norway.
For more information on Petroleum Geo-Services visit www.pgs.com.

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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, 2005. As a result of these factors, actual events may differ materially from those indicated in or implied by such forward-looking statements.

Contact Information

Ola Bøsterud

Petroleum Geo-Services ASA

Contact via E-mail