TGS-NOPEC to acquire new non-exclusive 2D seismic and aeromagnetic data offshore northern Spain

Nærsnes, Norway, August 23, 2001 - TGS-NOPEC Geophysical Company ASA (OSLO:TGS) today announced plans to acquire a 4,100-km 2D seismic survey and a 38,000-km aeromagnetic programme in the Cantabrian Sea. Both highly pre-funded projects are scheduled to commence in September and terminate in October/November.

The Cantabrian Sea 2D survey is the first in a series of seismic programmes TGS-NOPEC plans to conduct offshore Spain. The seismic data will be acquired with the chartered vessel M/V NanHai 502 towing a 6,000 m streamer. Following processing in TGS-NOPEC's Bedford UK processing centre, final data will be available to the oil companies during the first Quarter of 2002.

The aeromagnetic data will be acquired and processed by TGS-NOPEC's potential field group based in Norway. Final data will be available December 2001.

TGS-NOPEC is a leading global provider of non-exclusive seismic data and associated products to the oil and gas industry. Oil companies use this seismic data to explore for and develop oil and gas deposits. TGS-NOPEC specializes in the planning, acquisition, processing, interpretation, and marketing of non-exclusive surveys worldwide. The company places a strong emphasis on providing high quality seismic data and the highest level of service to the industry. TGS-NOPEC also offers proprietary seismic acquisition and processing services, as well as gravity and aeromagnetic surveys.