TGS ASA — Audit Report / Information 2015

Dec 4, 2015

TGS - Changes to multi-client library amortization from 1 January 2016

TGS - Changes to multi-client library amortization from 1 January 2016

ASKER, NORWAY (4 December 2015) - Due to an amendment to IAS 38 Intangible

assets, the amortization method for the seismic multi-client libraries will have

to change with effect from 1 January 2016.

After an extensive process involving industry participants, TGS and PGS have

decided to adopt the following changes to the amortization policy:

* During the work in progress (WIP) phase, amortization will continue to be

based on total cost versus forecasted total revenues of the project.

* After a project is completed, a straight-line amortization is applied. The

straight-line amortization will be assigned over a remaining useful life,

which for most projects is expected to be 4 years. The straight-line

amortization will be distributed evenly through the financial year

independently of sales during the quarters.

Today's minimum amortization policy will no longer be relevant.

The changes to multi-client library amortization will be applied prospectively

as from 1 January 2016.

Company summary

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil

and gas Exploration and Production companies worldwide. In addition to extensive

global geophysical and geological data libraries that include multi-client

seismic data, magnetic and gravity data, digital well logs, production data and

directional surveys, TGS also offers advanced processing and imaging services,

interpretation products, and data integration solutions.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange

(OSLO:TGS). TGS sponsored American Depositary Shares trade on the U.S. over-the-

counter market under the symbol "TGSGY".

For more information visit TGS online at www.tgs.com.

Forward-looking statements

All statements in this press release other than statements of historical fact

are forward-looking statements, which are subject to a number of risks,

uncertainties and assumptions that are difficult to predict, and are based upon

assumptions as to future events that may not prove accurate. These factors

include TGS' reliance on a cyclical industry and principle customers, TGS'

ability to continue to expand markets for licensing of data, and TGS' ability to

acquire and process data products at costs commensurate with profitability.

Actual results may differ materially from those expected or projected in the

forward-looking statements. TGS undertakes no responsibility or obligation to

update or alter forward-looking statements for any reason.

Contact information

For additional information about this press release please contact:

Sven Borre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Will Ashby

Director Finance Western Hemisphere & Investor Relations

Tel: +1 713 860 2184

Email: will.ashby@tgs.com

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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