TGS ASA — Earnings Release 2018

Oct 8, 2018

Q3 2018 Revenue Update

Q3 2018 Revenue Update

ASKER, NORWAY (8 October 2018) - Based on preliminary reporting from operating

units, TGS management expects net revenues for the third quarter of 2018 to be

approximately USD 141 million.

"TGS continued its good late sales momentum in Q3 2018 with a growth of 35% Y/Y.

Once again, our financial results benefited from activity related to acreage

turnover in areas where we have a strong library position.  With the market

fundamentals continuing to improve, our customers are under increased pressure

to replenish reserves and start growing again. As a result, we believe

exploration budgets will have to increase from the current unsustainable, low

level", commented Kristian Johansen, CEO, TGS.

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

SVP Investor Relations, 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)