TGS Announces New 2D Survey in Laptev and East Siberian Seas

ASKER, NORWAY – TGS will commence acquisition of a new 7,700 km 2D survey in the Russian Arctic Sea. Data acquisition will begin in early August with 4,500 km in the Laptev Sea before the vessel moves to the East Siberian Sea to acquire an additional 3,200 km. The survey is in partnership with Dalmornefte Geophysica Yuzhno-Sakhalinsk (DMNG) under the 2D Cooperation Agreement previously announced in a press release on 4 January 2011.

The seismic data will be acquired by M/V Akademik Fersman and will be completed in early Q4 2011. Data processing from the new acquisition will be performed by DMNG and available to clients from late Q1 2012. The survey is supported by industry funding.

TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and services to the oil and gas industry for the exploration and delineation of hydrocarbon reserves. We design and acquire multi-client data projects worldwide that make up our data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging technology and regional interpretation expertise.

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. 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).