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2014-05-07

TGS: TGS Increases Investment Offshore Eastern Canada

HOUSTON (7 May 2014) - TGS announces the expansion of multi-client 2D surveys
offshore Eastern Canada with plans to acquire more than 30,000 km of seismic
data, in partnership with PGS, utilizing two vessels during the 2014
acquisition season.

The M/V Sanco Spirit, utilizing the PGS GeoStreamer® technology, will acquire
seismic and gravity data in the Labrador Sea and Northeast
Newfoundland-Flemish Pass areas. Data acquisition will commence during June
2014. This project will provide valuable data covering expected Areas of
Interest (AOIs) to be released by Canada's Newfoundland and Labrador Offshore
Petroleum Board (C-NLOPB) as part of the new land tenure system announced to
the industry on 19 December 2013. This new data will also complement TGS'
existing 47,600 km of 2D data acquired during the 2011, 2012 and 2013
acquisition seasons in this region. Data processing will be performed by TGS
and final data will be available to clients Q3 2015.

The M/V Atlantic Explorer, also utilizing the PGS GeoStreamer® technology,
will acquire seismic and gravity data in the Tail of the Bank area of
Southeast Grand Banks. Data acquisition will commence during July 2014. The
Southeast Grand Banks 2D covers an initial 15,000 km to infill the existing
TGS NF 101 Tail of the Bank 2D survey acquired in 2000, where it is expected
the C-NLOPB will announce future AOIs. Data processing will be performed by
TGS and final data will be available to clients Q3 2015.

TGS complements these new investments with data from its expansive well log
library and advanced multi-client interpretation products that will improve
play, trend and prospect delineation.

"We believe offshore Eastern Canada is one of the world's newest energy
frontiers and the region holds significant untapped potential. This season's
commitment to two vessels will accelerate our expansion of regional coverage
in support of Newfoundland-Labrador's provincial energy strategy, including
more detailed coverage in the expected future AOIs
," commented Rod Starr, Senior VP Western Hemisphere for TGS.

Both of these projects have industry support.

To view TGS' updated vessel and crew capacity schedule, pleaseclick here.

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, permanent reservoir monitoring
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
Chief Financial Officer
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

Rod Starr
Senior VP Western Hemisphere
Tel: +1 713 860 2100
Email: rod.starr@tgs.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

Vessel Crew Capacity Secured 2014
http://hugin.info/86869/R/1782885/610398.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via Globenewswire

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