TGS ASA — Earnings Release 2016

Mar 23, 2017

TGS 2016 Financial Statements Approved

TGS 2016 Financial Statements Approved

Asker, Norway (23 March 2017) - The Board of Directors of TGS-NOPEC Geophysical

Company ASA has today approved the financial statements for 2016 showing a net

income USD 27.7 million in 2016. Net income has been increased by USD 5.4

million following a reduction of the tax expense compared to the preliminary

financial statements reported on 2 February 2017. EPS (fully diluted) is at

0.28 for 2016, and total equity is at USD 1,169 million at 31 December 2016.

The Annual Report for 2016 will be published on the company's website and

notified to the Oslo Stock Exchange in April 2017.

The Annual General Meeting will be held on 9 May 2017.

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 begin_of_the_skype_highlighting

Email: will.ashby@tgs.com

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

(Norwegian Securities Trading Act)