TGS ASA — Earnings Release 2018

Feb 8, 2018

TGS announces 2018 Guidance

TGS announces 2018 Guidance

ASKER, NORWAY (8 February 2018) - During 2017 TGS acquired a record-high amount

of 3D data at historical low cost. At the same time the company achieved

industry-leading financial returns and strong free cash flow development, paving

the way for an increase of 33% of the quarterly dividend in Q1 2018. Market

conditions support a strategy of counter-cyclical investment and in 2018 TGS

expects to continue adding high volumes of data to its multi-client library at

low unit costs, forming the basis for continued robust returns and cash flows

going forward.

Based on the current plans TGS provides the following guidance for 2018:

* 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

45-50%

* Amortization expected to be approximately USD 310 million

"With its strong balance sheet, industry-leading cash flow and world class

geoscience and project development expertise, TGS will continue to thrive in the

current market conditions.  Our library continues to grow and although the

current base expectation is for relatively flat demand for seismic data in

2018, the risk is on the upside given the recent positive oil price trend,"

commented Kristian Johansen, CEO of 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, permanent reservoir monitoring 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 principal 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)