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TGS Provides 2014 Investment Visibility With Three New Multi-Client Seismic Surveys


TGS Provides 2014 Investment Visibility With Three New Multi-Client Seismic Surveys

HOUSTON, TX -- (Marketwired) -- 10/23/13 -- TGS announces three new multi-client surveys; a 3D survey in the Atwater Valley area of the central Gulf of Mexico, a 3D onshore survey in Alberta, Canada and a 2D survey offshore Newfoundland.

The Francisco 3D multi-client survey in the Atwater Valley area of the central Gulf of Mexico expands upon the previously announced survey. Upon completion, the survey will total more than 6,667 km2 of seismic data in this frontier area of the Gulf of Mexico. Data processing will be performed by TGS using Clari-Fi(TM) technology, a proprietary broadband processing technique. Final data will be available to clients in Q4 2014.

Pendryl, a new 3D multi-client onshore survey covering 320 km2 in Central Deep Basin in Alberta, Canada will expand TGS' existing coverage in the emerging Duvernay play. The survey is located Southwest of Edmonton and is designed to evaluate multiple zones from Cretaceous to Devonian, including currently producing formations such as Cardium, Glauconite, Nordegg, Pekisko and Duvernay. The seismic data will be processed by TGS' Calgary-based subsidiary, Arcis Seismic Solutions, and final data will be available to clients late Q1 2014.

The Northeast Newfoundland Shelf 2D survey covering 5,000 km expands on the previously announced survey offshore Newfoundland. Upon completion, the survey will cover 25,000 km in this region of prolific oil discoveries including Hibernia, Terra Nova, Hebron, White Rose and the more recent Mizzen, Harpoon and Bay du Nord discoveries. The survey will be acquired in partnership with PGS and utilizes PGS GeoStreamer(R) technology. Final data will be available to clients during Q3 2014.

All three surveys are supported by industry funding.

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 monit oring 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 Investor Relations and M&A 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

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