TGS ASA — M&A Activity 2015

Jun 1, 2015

TGS announces extension to LOA for 3D surveys in Northwest Europe

TGS announces extension to LOA for 3D surveys in Northwest Europe

ASKER, NORWAY (1 June 2015) - Reference is made to TGS' announcement dated 9

April, 2015 regarding Letter of Award (LOA) with Polarcus DMCC to acquire 3,000

km(2) of 3D seismic data in Northwest Europe with a potential extension of up to

a total of 7,000 km(2).

TGS has, upon completion of the initial survey in Barents Sea Southeast, elected

to extend the charter to acquire a further 3,000 km(2) of multi-client 3D

seismic in the Norwegian Barents Sea.

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 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:

Kristian Johansen

COO/Interim CFO

Tel: +47 47 60 33 34

Email: kristian.johansen@tgs.com

Will Ashby

Director Finance Western Hemisphere & Investor Relations

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)

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