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PGS Announces Expected Timing For Completion of Audited Norwegian GAAP Financial Statements for 2003

Petroleum Geo-Services ASA announced today that its Board of Directors is scheduled to adopt its recommended 2003 Annual Financial Statements for 2003 prepared in accordance with Norwegian generally accepted accounting principles ('Norwegian GAAP Financial Statements') on June 16, 2004.

Petroleum Geo-Services ASA announced today that its Board of Directors is scheduled to adopt its recommended 2003 Annual Financial Statements for 2003 prepared in accordance with Norwegian generally accepted accounting principles ("Norwegian GAAP Financial Statements") on June 16, 2004.

Previously, the Company had, through the decision of the Oslo Stock Exchange Appeals Committee of March 31, 2004 (as announced in the press release dated April 1, 2004), been granted extended time to adopt the Norwegian GAAP Financial Statements until June 2, 2004. The Company has applied with the Oslo Stock Exchange for a further extension until 16 June 2004.

Associated companies: