Petroleum Geo-Services Announces Earnings Release Date and Conference Call for First Quarter Operating Results

To access the call, which is open to the public, please call the conference call operator at 888-603-6970 or 312-470-0022 for international callers, 10 – 15 minutes prior to the scheduled start time, and ask for the “PGS conference call.” There will be a digital replay of the conference call beginning at 11:30 a.m. Eastern Time on the day of the call through Wednesday, May 2, 2001 at 800-468-0325 or 402-998-0109 for those calling from outside the U.S., passcode “PGS conference call.”

Interested parties may also listen to the conference call and replay on Petroleum Geo-Services’ web site at www.pgs.com. Petroleum Geo-Services suggests that you connect to the site at least 15 – 20 minutes prior to the live, listen-only audio webcast of the conference call on Wednesday, April 25, 2001 to ensure adequate time for any software download that may be needed to hear the call.

Petroleum Geo-Services is a technologically-focused oilfield service company principally involved in two businesses: geophysical seismic services and production services. PGS acquires, processes, manages and markets 3D, time-lapse and multi-component seismic data. This data is used by oil and gas companies in the exploration for new reserves, the development of existing reservoirs, and the management of producing oil and gas fields. PGS’ PetroTracTM suite of advanced geophysical technologies allows oil and gas companies to better characterize and monitor their reservoirs in order to enhance production and ultimate recovery of hydrocarbons. In its production services business, PGS owns four floating production, storage and offloading systems (FPSOs) and operates numerous offshore production facilities for oil and gas companies. FPSOs permit oil and gas companies to produce from offshore fields more cost effectively. PGS operates on a worldwide basis with headquarters in Oslo, Norway and Houston, Texas.