PGS Makes Organizational Changes in Marine Unit

Petroleum Geo-Services has made the following changes to strengthen its Marine Geophysical business segment.

Rune Eng (43) is appointed new President Marine Geophysical. He will report to CEO, Svein Rennemo and be part of the Group Leader Team (GLT). Rune Eng has spent his whole career in the Geophysical business. In PGS he has had various management positions since 1997. Eng is presently President Marine Geophysical EAME Region.

Diz Mackewn (56), presently President Marine Geophysical, will take on a new assignment as Group Senior Vice President Geophysical. The purpose of this position is to help clarify options for further developing the Geophysical business. In this new role he will lead the efforts to further develop a comprehensive geophysical technology strategy, develop new business models with a higher value potential and initiate and sustain more coherence in market approach and use of resources between our two geophysical Business Units. He will report to CEO, Svein Rennemo and be part of the Group Leader Team (GLT).

The changes are effective from August 20, 2004.

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