TGS ASA — Earnings Release 2019

Jan 9, 2020

Q4 19 Revenue Update

Q4 19 Revenue Update

ASKER, NORWAY (9 January 2020) - Based on preliminary reporting from operating

units, TGS management expects net segment revenues* for the fourth quarter of

2019 to be approximately USD 230 million.

Kristian Johansen, CEO at TGS, stated, "After record high revenues in Q3, we are

pleased to follow up with another solid quarter. This means that TGS' full-year

pro-forma revenues were up by an impressive 16.2% compared to 2018. Further, our

sales pipeline for Q1 2020 looks promising, with high vessel activity combined

with solid pre-funding."

* Based on segment reporting with revenues from projects-in-progress, recognized

according to percentage of completion, as opposed to the IFRS reporting where

revenues as a main rule are not recognized until the project has been delivered

to the customer(s).

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 (http://www.tgs.com

(http://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".

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For additional information about this press release please contact:

Dean Zuzic

Chief Financial Officer

Tel: +47 41 43 35 60

Email: investor@tgs.com (mailto:investor@tgs.com)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.