TGS ASA — M&A Activity 2016

Sep 6, 2016

TGS announces exclusive commercial well log agreement with ANCAP in Uruguay

TGS announces exclusive commercial well log agreement with ANCAP in Uruguay

HOUSTON, TX (6 September 2016) - The Ministry of Industry, Energy and Mining

(MIEM) of the Republic of Uruguay has been authorized by the President of the

Republic to allow the Administración Nacional de Combustibles, Alcoholes y

Portland (ANCAP) to contract directly with TGS for the purpose of

standardization and commercialization of a multi-client well data program for

exploration wells in Uruguay.

This partnership with TGS supports Uruguay's long-term exploration strategy that

was launched in 2007 incorporating participation and risk-sharing by

international E&P companies.  A number of major international companies are now

active in this region. Four exploration wells are expected to be drilled next

year in the underexplored frontier Cuenca Norte onshore sector of the regional

Chaco-Parana basin.

"We are excited to add Uruguay's well data to our ever expanding global well log

library," noted John Adamick, Senior VP Geological Products. "The partnership

between TGS and ANCAP will provide extensive access to technical data that will

enhance exploration in Uruguay."

TGS' global well database includes over eight million logs and other borehole

data from key hydrocarbon provinces worldwide. The data is available online via

LOG-LINE Plus!®, a data repository with search, order and download capabilities.

TGS' global well database includes over eight million logs and other borehole

data from key hydrocarbon provinces worldwide. The data is available online

via LOG-LINE Plus!®, a data repository with search, order and download

capabilities.

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 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".

For additional information about this press release please contact:

Sven Borre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Email: sven.larsen@tgs.com

Will Ashby

VP of HR & Communications

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)