Press Releases

TGS acquires directional survey business and signs well header sharing agreement

HOUSTON (15 June 2010) - TGS announced today that its Geological  Products division purchased the directional survey business of P2 Energy Solutions' Tobin business line. The agreement includes the purchase of P2's existing database of over 38,000 high quality directional surveys and incorporates ongoing client initiated programs in several key regions. Directional surveys are a summary of geometric information that provides a detailed 3D view of a well's path in the subsurface.

As part of the directional survey transaction, TGS and P2 signed a separate agreement to share certain well header information in the US. Well headers contain basic metadata including, but not limited to, a well's general location, name, and depth.

John Adamick, Senior Vice President of the TGS Geologic Products division said, "We are very happy to conclude this transaction. P2's Tobin Map Data is well known for its high quality directional survey processing and they bring a wealth of expertise to help TGS grow this division of the business. The transaction provides TGS with a large number of surveys that can be sold immediately through our LOG-LINE Plus! e-commerce site. These directional surveys are a natural companion to our industry-leading digital well log database. Additionally, the well header sharing arrangement allows TGS to maintain our long-standing relationship with P2 and for standardization of basic well information between the companies."

"The transfer of the directional well survey business will allow us to invest more in our industry leading surface data products," stated Bret Bolin, Chief Executive Officer of P2 Energy Solutions. "Our 3,000 Tobin data customers will have access to new geographic regions, expanded data in existing regions and technological enhancements to our core offerings. In addition, they will also benefit from the agreement between P2 Energy Solutions and TGS to share well header information in the US."

About TGS

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, and data integration solutions.

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.

Sven Børre Larsen

Sven Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Ellen Munkvold

Ellen Munkvold

IR Coordinator

Tel: +47 97 76 26 25