Press Releases

TGS names new CFO

ASKER, NORWAY (27 May 2015) - TGS is pleased to announce the appointment of Sven Børre Larsen as the Company's new Chief Financial Officer.  The effective date of Mr. Larsen's employment is yet to be determined, but will be no later than December 1, 2015.  Mr. Larsen will be based in TGS' Asker office.

Most recently, Mr. Larsen was the Chief Financial Officer of Prosafe Management AS in Norway, the world's leading owner and operator of accommodation support vessels for the offshore oil and gas industry.  Mr. Larsen also has extensive experience as a Financial Analyst in a broad range of industries including the oil services sector.  A native of Norway, Mr. Larsen earned his undergraduate and master's degrees at the University of Tromsø and the Bodø Graduate School of Business.

Mr. Larsen replaces Kristian Johansen as CFO. Mr. Johansen's promotion to COO of TGS was announced in December of 2014.  Mr Johansen will continue to also serve as interim CFO until Mr. Larsen's date of employment.

In announcing the appointment, Robert Hobbs, Chief Executive Officer of TGS, commented, "I am pleased to have Sven join our executive team. He brings a wealth of knowledge as a proven CFO of a successful oil and gas services organization and I look forward to his contribution to TGS' continued success."

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