TGS: Regarding offer to acquire the multi-client data library of PGS

OSLO, NORWAY (14 August 2020) – Reference is made to the announcement from TGS-NOPEC Geophysical Company ASA ("TGS", OSE: TGS) 6 August 2020 regarding the offer to purchase the multi-client data library of PGS ASA ("PGS") and PGS’ announcement 13 August 2020 that it rejects the proposal. 

"We believe a consolidation and further partnership between our two companies carry strong industry logic and we have seen broad support for this following our announcement last week. We are disappointed by the unwillingness from the PGS board and management to enter into discussions to explore joint opportunities and collaboration as indicated in our Offer. TGS remains committed to our strategy of industry leadership and further consolidation to deliver best in class services to our customers, while creating value for our owners and other stakeholders”, says Kristian Johansen, CEO of TGS.

For further information, please contact:

Fredrik Amundsen

CFO

Tel:

E-mail:

Sven Børre Larsen

Head of Business Development and M&A

Tel:

E-mail:

About TGS

TGS-NOPEC Geophysical Company ASA (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

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