Petroleum Geo-Services ASA reports that its seismic 3D vessel fleet used approximately 89% of its total time to acquire marine contract and multi-client seismic in the third quarter of 2007. This compares to 88% in the second quarter of 2007 and 83% in the third quarter of 2006.

As previously announced PGS plans to release its 2007 third quarter financial results on Wednesday, October 24, 2007, at approximately 8:00 am Central European Time (CET).

In fourth quarter both Ramform Challenger and Ramform Valiant will be at yard for 10-year classing and upgrades. The yard stays will last approximately 1 and 1.5 months, respectively (including steaming).

As previously announced the Company has entered into an agreement to sell Ramform Victory to the Japanese Ministry of Economy, Trade and Industry ("METI") for approximately $213 million, including start up fees, along with an agreement to provide technical and operating services with commercial terms agreed for an initial period of 4 years. Ramform Victory will end operations early October to complete a yard stay before the subsequent delivery to METI.