Petroleum Geo-Services to Hold 2004 First Quarter Results Webcast and Conference Call

The news release concerning the 2004 first quarter financial results and a corresponding slide presentation will be posted at Petroleum Geo-Services web site at www.pgs.com. Interested parties can listen to the conference call and management's remarks to the slide presentation over the Internet or by telephone.

To participate on the simulcast of the conference call over the Internet, please visit PGS' web site, www.pgs.com, at least 15 minutes early, to register and to download and install any necessary audio software.

Alternatively, to access the live broadcast of the conference call by telephone, please dial-in at the number provided below, corresponding to your location, and reference "PGS / Svein Knudsen":

Location Dial-In Number
Norway (Toll-Free): +47 8008 0119
U.S. (Toll-Free): +1 888-428-4478
Canada: +1 651-291-5254
U.K. and Other: +47 2300 0400

The telephone will be open for questions at the conclusion of management's remarks; questions to management can also be submitted, in writing, over the Internet by accessing the webcast.

For those that cannot listen to the live conference call, a replay of the webcast will be made available at PGS' website, www.pgs.com. Alternatively, a digital reply will be available shortly after the conclusion of the conference call, through Thursday, May 20, 2004 at +47 2276 9121. After dialing in, enter account number 1270, followed by the pound key (#); press 1, enter conference number 270, followed by the pound key (#); then press 1 to play.

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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). PGS operates on a worldwide basis with headquarters in Oslo, Norway. For more information on Petroleum Geo-Services visit www.pgs.com.

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