OLSO, Norway, Jan. 29, 2003 (PRIMEZONE) -- Petroleum Geo-Services ASA ("PGS") (NYSE:PGO) (Oslo:PGS) today announced that it has paid interest on its 6 5/8% Senior Notes due 2008 and its 7 1/8% Senior Notes due 2028. The Company previously announced on December 27, 2002 that it would use the 30 day grace period for payment of interest due December 30, 2002 on these notes.
Under the terms of the notes, no default has occurred as the interest payment was made within 30 days of the due date.