Press Releases

TGS announces planned leadership change

ASKER, NORWAY (17 December 2014) - The Board of TGS is pleased to announce the appointment of Kristian Johansen to the newly created role of Chief Operating Officer (COO), effective 1 February 2015.

Kristian joined TGS in 2010 as Chief Financial Officer. Prior to joining TGS, Kristian was the Executive Vice President and CFO of EDB Business Partner in Oslo, one of the largest IT groups in the Nordic region. Mr. Johansen also has experience in the construction, banking and oil industries. A native of Norway, Kristian earned his undergraduate and Master's degrees in business administration from the University of New Mexico in 1998 and 1999.

"I am excited to see Kristian take this new role for TGS", stated Robert Hobbs, TGS Chief Executive Officer.  "As we have grown to be one of the largest geoscience data companies in the world, Kristian has served an important role in assuring that our Company has appropriate financial controls and processes.  He will now take the lead in assuring that we continue to grow the highest quality data library in the industry.  This new appointment will allow me to focus on long-term strategic development of the Company in my capacity as CEO".

Kristian will hold the dual role of COO/CFO until a new CFO is appointed.

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