TGS - Renewal of the Board's Authorization to Distribute Dividends

ASKER, NORWAY--(Marketwired - May 10, 2016) - Reference is made to the notice on 21 April 2016 where TGS informed that the Board had resolved a quarterly dividend of the NOK equivalent of USD 0.15 per share subject to a renewal of the Board's authorization to distribute quarterly dividends at the Annual General Meeting on 10 May 2016. The Annual General Meeting has today renewed the Board's authorization to distribute quarterly dividends, and TGS confirms the following key information relating to the cash dividend:

Dividend amount and declared currency: USD 0.15 per share (dividend will be paid in NOK based on the exchange rate on 10 May 2016)

Last trading day including right: 13 May 2016

Ex-date: 18 May 2016

Record date: 19 May 2016

Payment date: 1 June 2016

Company summary

TGS-NOPEC Geophysical Company (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.

For more information visit TGS online at www.tgs.com.

Forward-looking statements and contact information
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 principle customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products 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.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO: TGS).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".