MGP has been with Rovers for the last five years and is happy to commit his future to the club, even though he wanted a move when Paul Ince was in charge.
But the 27-year-old now believes the club are heading in the right direction under the leadership of new boss Sam Allardyce.
"There were a lot of poor performances under Ince, but Allardyce has helped to bring back consistency and results have improved," Pedersen told Aftenposten.
"I have a year left on my contract and I like it at Blackburn."
On the possibility of penning an extension, he added: "We have talked about it, but not sat down yet.
"I know they want to talk about an extension, so I am calm at the moment."