TGS-NOPEC Geophysical Company Announces World’s Largest Non-Exclusive 3D Pre-Stack Depth Migration Project

Houston, Texas, September 18, 2000 -- TGS-NOPEC Geophysical Company announced today the start of the seismic industry’s largest ever non-exclusive 3D pre-stack depth migration project, covering approximately 15,400 square kilometers in the prolific Mississippi Canyon area of the Gulf of Mexico. The results from this highly specialized form of subsurface imaging will complement TGS-NOPEC’s original 660 OCS block pre-stack time migrated Mississippi Canyon 3D product.

TGS-NOPEC has contracted Paradigm Geophysical to perform the depth imaging work in their Houston processing center. The first phase of this project, covering approximately 2,700 square kilometers, is scheduled for delivery prior to the Central Gulf of Mexico OCS Lease Sale in March 2001. The project is 100% financed by TGS-NOPEC and represents a significant portion of the Company’s planned investments in 3D for the year 2000.

“We are very excited about this project,” said Hank Hamilton, TGS-NOPEC’s CEO. “It fits beautifully with our strategy to increase TGS-NOPEC’s financial exposure to the 3D multi-client business and dramatically expands our inventory of leading technology, value-added products.”

The Mississippi Canyon area contains the largest concentration of deepwater discoveries and producing properties in the Gulf of Mexico. Also within the project area, large blocks of highly prospective acreage are anticipated to be available for leasing over the next three years. The improved subsurface imaging from the depth migration process will provide a powerful tool for development of known reservoirs and for regional exploration.

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.

TGS-NOPEC is listed on the Oslo Stock Exchange (OSLO:TGS).