TGS ASA — M&A Activity 2015

Apr 16, 2015

TGS announces joint venture agreement to acquire new Multi-Client 3D in Barents Sea

TGS announces joint venture agreement to acquire new Multi-Client 3D in Barents Sea

ASKER, NORWAY (16 April 2015) - TGS announces that it has signed a joint venture

agreement with Dolphin Geophysical (DOLP) to acquire 4,500 km(2) 3D multi-client

seismic survey over the western part of the Hammerfest Basin in the Barents Sea.

The survey will provide industry with broadband data over APA acreage not

previously covered by modern MC 3D. Successful exploration of remaining

resources in this area could provide the key to commercial production

developments in this part of the Barents Sea.

The new survey is based and planned on TGS' and Dolphin's existing data and G&G

knowledge in this geographical area. The new project links the existing

Dolphin's Gotha 3D survey with TGS' Finnmark Platform 3D surveys and will

provide industry with seamless data coverage over large areas in the Western

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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