TGS Expands Gulf of Mexico Presence with Key OBN Data Acquisition Contract for Repeat Client

OSLO, Norway (26 October 2023) – TGS, the leading global provider of energy data and intelligence, has been awarded a three-month proprietary Ocean Bottom Node (OBN) data acquisition contract in the Gulf of Mexico (GoM) for a repeat customer. The project's acquisition will start in Q4 2023 and reach completion during Q1 2024.

Kristian Johansen, CEO at TGS, commented: “This project, for a repeat customer, further highlights the integral role OBN acquisition has in providing our clients improved seismic data quality and help them make better reservoir development and management decisions.”

In addition to delivering unparalleled seismic data quality, TGS' OBN solutions offer an array of benefits. These innovative technologies provide clients with deeper insights into reservoirs, significantly reducing uncertainty in exploration and development. With the ability to access critical data through OBN technology, clients can optimize their reservoir management, streamline decision-making and enhance their overall operational efficiency. This project marks another milestone in TGS' commitment to delivering cutting-edge solutions that empower the energy industry to thrive.

About TGS

TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Forward Looking Statement

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 volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. 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.

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Sven Børre Larsen

Chief Financial Officer