TGS Announces Second Expansion of 3D Multi-client Seismic Data Library in the Barents Sea

ASKER, NORWAY (26 July 2011) - TGS has commenced the acquisition of an extension of its multi-client 3D seismic data in the Hoop Fault Complex area of the Barents Sea.  This extension is to the west of the previously announced industry funded Hoop Fault Complex survey and will add 3,391 km(2) to the existing data in the area.   Upon completion of the expanded project, TGS will have over 7,300 km(2) of contiguous multi-client 3D data over the Hoop Fault Complex.  In conjunction with this multi-client survey, TGS will also acquire approximately 1,100 km(2) of seismic data on a proprietary basis for a TGS customer. Acquisition of the data will be performed by the M/V Polar Duke towing 10 x 6,000 m streamers with 75 m cable separation and acquisition is scheduled to complete during early Q4 2011.  Data processing will be performed by TGS and will be available to clients from Q2 2012. Company summary TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS' geophysical and geological data products include multi-client seismic libraries, permanent reservoir monitoring, magnetic and gravity data, the industry's largest global database of digital well logs and regional interpretive products. TGS also provides high-end depth imaging services to help resolve complex seismic imaging problems. For more information visit TGS online at 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). For additional information about this press release please contact: Kristian Johansen Chief Financial Officer Office: +47 667 69931 Cell: +47 47 60 33 34 Karen El-Tawil VP, Business Development Office: +1 713 860 2102 Cell: +1 713 806 2420 Kjell E. Trommestad Senior VP Europe & Russia Tel: +47 66 76 99 61 This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) HFC Map: This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: TGS via Thomson Reuters ONE [HUG#1533339]