PGS Moves Asia Pacific HQ to Malaysia

Petroleum Geo-Services ASA : Kuala Lumpur Becomes the New Asia Pacific Regional Headquarters

As a part of the plan to restructure PGS business activities in Asia Pacific the Company has decided to relocate its regional headquarters from Singapore to Kuala Lumpur ("KL"). The move will result in consolidation and centralization of resources and lead to improved competitive advantage and reduced costs, all of which are important in the current challenging market.

KL is the hub of the vibrant and active domestic Malaysian exploration and production market. The Imaging center in the city is one of PGS' busiest, carrying a significant part of the Company's load for imaging worldwide. By locating the regional headquarters in KL PGS will get closer interaction with the major international oil companies established there as well as the national oil company Petronas, considered an ambitious international player.

The move will take place in July 2015.