Press Releases

TGS expands multi-client seismic data library in Europe with new Barents Sea PSDM project

ASKER, NORWAY (05 May 2010) TGS announced today that it has launched a 2,600 square kilometer 3D pre-stack depth migration (PSDM) project over the Hoop Fault Complex, offshore Norway in the Barents Sea. This will be the first multi-client project of its kind in the European region. The project will be managed by the TGS processing center in Bedford, United Kingdom. Original data was acquired by the M/V Geo Barents and M/V Geo Pacific during the summer of 2009.

Interpretation work previously done by TGS suggests there could be favorable conditions for the occurrence of hydrocarbons in the project area. "PSDM processing on this project will enhance the imaging of geology adjacent to and below shallow faulting, solving one of the main geological challenges in the area," said Kjell Trommestad, VP and General Director of Europe/Russia for TGS.

Final data will be available for the industry well before the application deadline for the 21st licensing round in Norway. This project is supported by industry funding.

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