TGS ASA — Earnings Release 2017

May 23, 2017

TGS demonstrates counter-cyclical strategy as it increases 2017 Investment Guidance

TGS demonstrates counter-cyclical strategy as it increases 2017 Investment Guidance

ASKER, NORWAY (23 May 2017) - TGS demonstrates counter-cyclical strategy as it

increases 2017 Investment Guidance to approximately USD 260 million.  TGS has

successfully secured prefunding commitments from clients to support additional

multi-client investments in 2017.  The new investment guidance represents an

increase of approximately 20% over 2016 multi-client investments.

"I am delighted to announce this increase to TGS' 2017 investment guidance.

Through our counter-cyclical strategy we are adding a record-high amount of 3D

data to our multi-client library at attractive unit costs.  This will position

TGS to enhance its status as the world's leading multi-client geophysical

company," commented Kristian Johansen, CEO of TGS.

TGS provides the following increased guidance for 2017:

* New multi-client investments* of approximately USD 260 million

* Additional multi-client investments expected from sales of existing surveys

with risk sharing arrangements

* Pre-funding of new multi-client investments* expected to be approximately

40-45%

*New multi-client investments excluding investments related to surveys with risk

sharing arrangements

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

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

Forward-looking statements and contact information

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.

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 additional information about this press release please contact:

Sven Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Email: sven.larsen@tgs.com

Will Ashby

VP HR & Communication

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)