TGS ASA — Remuneration Information 2018

Aug 3, 2018

TGS authorizes award of performance stock units and restricted stock units

TGS authorizes award of performance stock units and restricted stock units

ASKER, NORWAY (3 August 2018) - The Board of Directors of TGS NOPEC Geophysical

Company ASA has authorized the award of PSUs (Performance Stock Units) and RSUs

(Restricted Stock Units) to be granted to 93 key employees of the Company.

The list of the primary insiders receiving PSUs and RSUs is attached. In

accordance with the measures approved by the Shareholders of TGS at the Annual

General Meeting on 8 May 2018, the PSUs and the RSUs are secured by free-

standing warrants.

Each PSU represents the right to receive the maximum of one share, while each

RSU represents the right to receive one share.

The PSUs have been granted to members of the executive team and will vest on the

third anniversary of the date of grant provided the executive remains employed

with TGS on the vesting date. Upon vesting, the PSUs will be converted to TGS

shares, depending on performance versus target metrics. The number of shares

will be determined by multiplying the number of PSUs granted by a factor of 0%

to 100%. The factor is determined by performance against three target metrics:

relative return on average capital employed compared against a defined peer

group of companies, (ii) TGS' return on average capital employed, and (iii) HSE.

Each of the performance metrics is measured for the period 1 January 2018

through 31 December 2020.

The RSUs have been granted to certain non-executive key employees and will also

vest on the third anniversary of the date of grant provided the employee remains

employed at vesting and has achieved a satisfactory performance rating against

their goals over the three-year plan period. Upon vesting, the holder of the

RSUs will receive an equivalent number of TGS shares.  Some of the RSU holders

will have additional goals aligned with the PSU performance metrics which could

reduce the number shares received upon vesting.

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 Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Email: sven.larsen@tgs.com

Will Ashby

SVP Investor Relations, HR & Communication

Tel: +1 713 860 2184

Email: will.ashby@tgs.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.