Petroleum Geo-Services 2007 Annual General Meeting Completed

Petroleum Geo-Services ASA (“PGS” or the “Company”) (NYSE:PGS – News) (OSE:PGS) held its Annual General Meeting on June 15, 2007 at the Company’s premises at Lysaker. The Annual General Meeting resolved to approve all matters as proposed in the Calling Notice, including the proposal in item 3 of a special dividend of NOK 10 per share.

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 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, 2006. As a result of these factors, actual events may differ materially from those indicated in or implied by such forward-looking statements.

http://hugin.info/115/R/1133332/212093.pdf

http://hugin.info/115/R/1133332/212094.pdf

Contact:

Petroleum Geo-Services ASA Ola Boesterud +47 67 52 64 00 Mobile: +47 90 95 47 43 Christopher Moellerloekken +47 67 52 64 00 Mobile: +47 90 27 63 55 U.S. Investor Services Katrina Parrott

+1 281 509 8000

Source: Petroleum Geo-Services ASA