TGS: TGS Commences Industry's First Multi-client 3D Survey in Erlend Basin, UK, West of Shetlands

ASKER, NORWAY (10 May 2012) - TGS has commenced acquisition of a 3D multi-client survey covering 3,210 km² in the Erlend Basin on the UK Continental Shelf, West of Shetlands.

This is the first multi-client 3D survey in the Erlend Basin and builds on the improved imaging shown by the reprocessed TGS North Sea Renaissance 2D data. The survey covers open blocks which were offered in the UKCS 27^th licensing round.

The new 3D data expands on TGS' Northern North Sea 3D survey making a total contiguous volume exceeding 10,000 km².

TGS has chartered the M/V Polarcus Samur for the first phase of the acquisition. The remaining acquisition will be completed during the 2012 season by the M/V Polar Duchess, already on charter to TGS.  Processed data will be available for delivery and licensing in Q2 2013.

The survey is supported by industry funding.

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 www.tgs.com (http://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).

For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Office: [phone]
Cell: [phone]
Email: [e-mail] (mailto:[e-mail])

Kjell Trommestad
VP, Project Development Europe/Russia, Africa/Middle East
Office: [phone]
Email:  [e-mail] (mailto:[e-mail]%20) 

Karen El-Tawil
VP, Business Development
Office: [phone]
Email: [e-mail] (mailto:[e-mail])

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

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