PGS Reviewing Strategic Alternatives for Pertra Unit

Petroleum Geo-Services reports that the Company's Board of Directors has discussed the strategic alternatives for its wholly-owned oil subsidiary Pertra. The Company is still in discussions with the different interested parties and expects to reach a decision in the near future.

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) and owns a small oil and gas company. PGS operates on a worldwide basis with headquarters at Lysaker, Norway.