TGS ASA — Earnings Release 2019

Dec 4, 2019

TGS Commences Onshore Seismic Acquisition for Additional Montney Basin 3D Project in Canada

TGS Commences Onshore Seismic Acquisition for Additional Montney Basin 3D Project in Canada

CALGARY, Alberta (4 December 2019) - TGS announced today the commencement of its

2020 South Halfway 3D onshore seismic survey, amplifying its core position in

the Inga/Fireweed area of North East British Columbia (B.C.) in Canada.

The South Halfway 3D is the second multi-client onshore project this winter

season in the NEBC Montney basin for TGS, it is complementing recently announced

Midnight 3D. When completed, the South Halfway project adds nearly 100 square

kilometers of high-quality 3D seismic data and ties into existing TGS' 3D

seismic coverage in the area - exceeding 3,000 square kilometers over highly

prospective Montney acreage. A full suite of AVO-compliant reservoir

characterization products, in addition to a suite of pre-stack depth-migrated

deliverables, will be available in early 2020.

Kristian Johansen, CEO at TGS, said, "The South Halfway 3D project is another

great addition to TGS' high quality seismic data coverage in the Montney basin

in British Columbia and further expands our comprehensive onshore library in the

region. Our combined seismic, well log and interpretation datasets provide the

industry with invaluable subsurface insight, and the additional 3D coverage will

be instrumental to our customers' exploration and development efforts in the

area."

About TGS

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.

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 product 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.

For more information, visit TGS.com (http://www.tgs.com/) or contact:

Dean Zuzic

Chief Financial Officer

Dean.zuzic@tgs.com (mailto:Dean.zuzic@tgs.com)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act