TGS-NOPEC Geophysical Company Announces Company Name Change to TGS ASA

OSLO, NORWAY (3 June 2021) - TGS-NOPEC Geophysical Company ASA, a global provider of energy data and intelligence, will begin operating under the new name of TGS ASA. TGS ASA reflects both the evolution of the company as well as its vision for the future.

Kristian Johansen, CEO at TGS, commented, "As part of our new strategy to provide deeper insights and understanding across the energy spectrum, our board and management believe it was appropriate to rename our company to more specifically reflect this vision. We are excited about our new company name TGS ASA because it allows us to better represent our business to our customers and stakeholders and further positions us to meet the energy industry where it's at and where it's headed."

About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Forward Looking Statement
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 product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. 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.

For more information, visit TGS.comor contact:

Sven Børre Larsen
SVP Strategy
[phone]
[e-mail]