TGS ASA — Share Issue/Capital Change 2015

May 29, 2015

Distribution of shares to former Volant owners

Distribution of shares to former Volant owners

ASKER, NORWAY (29 May 2015) - TGS has today distributed in total 8,764 treasury

shares as a final payment to the former owners of Volant Solutions, in

accordance with the share purchase agreement signed in May 2012. One of the

former owners of Volant Solutions, Scott Schneider, now TGS' VP Information

Technology, Information Systems, is a primary insider. After this transaction

Scott Schneider holds 7,380 shares in TGS. Mr. Schneider does also hold 5,700

TGS stock options.

The company has distributed the shares to the former owners of Volant Solutions

from its balance of treasury shares. Following the transfer of the shares, TGS

holds 1,901,098 of the issued shares as treasury shares.

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

Cell: +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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