Press Releases

TGS Q3 2012 update

ASKER, NORWAY (8 October 2012) - Based on preliminary reporting from operating units, TGS management now expects net revenues for the third quarter of 2012 to be approximately USD 244 million, bringing estimated net revenues for the first nine months of 2012 to approximately USD 650 million, 52% higher than the first nine months of 2011. Multi-client investments for the third quarter are expected to be approximately USD 139 million. As a result of the Company’s Q3 performance and a preliminary forecast for Q4, management now believes full-year 2012 revenues will be between USD 870-910 million. Management will give a full report of Q3 results on 1 November 2012.

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