PGS ADS Starts Trading on the NYSE OSLO, Norway, Dec. 17 /PRNewswire-FirstCall/ -- Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE:PGS)(NYSE:PGS) announced today that its American Depositary Shares ("ADS") were listed and started trading as planned on the New York Stock Exchange ("NYSE") on December 17, 2004 under the ticker symbol "PGS". 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 in Oslo, 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. Ola Bosterud Sam R. Morrow Svein T. Knudsen Phone: +47 6752 6400 Suzanne M. McLeod Phone: +1 281-589-7935 DATASOURCE: Petroleum Geo-Services ASA CONTACT: Ola Bosterud, Sam R. Morrow, Svein T. Knudsen, +47-6752-6400, or Suzanne M. McLeod, +1-281-589-7935, all for Petroleum Geo-Services ASA Web site: http://www.pgs.com/

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