Houston, TX and Asker, Norway (4 May 2007) - TGS-NOPEC Geophysical Company ("TGS") announced today that it has received clearance from the US Federal Trade Commission allowing the Company to proceed with the acquisition of Parallel Data Systems, Inc. ("PDS"). As TGS notified the Oslo Stock Exchange on April 2nd, the transaction has been approved by the Board of Directors of both companies. Final Closing of the transaction is expected to occur next week. TGS-NOPEC Geophysical Company (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The Company provides advanced depth imaging solutions and software through its TGS Imaging division. Well log data is available for conversion, sourcing, management and immediate delivery through TGS subsidiary, A2D Technologies. Multi-client interpretive products and subsurface consulting services are provided through the Company's Aceca subsidiary. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry. 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 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). For more information about this news release, please contact: Arne Helland Chief Financial Officer Tel: +47 66 76 99 31/+47 91 88 78 29 Email: [email protected] John Adamick VP, Business Development Tel: 713 860 2100 Email: [email protected] --- End of Message --- TGS-NOPEC Baardsrudveien 2 Nærsnes Norway ISIN: NO0003078800; ;