TGS-NOPEC Geophysical Company ASA

07/01/2022 | Press release | Distributed by Public on 06/30/2022 23:11

TGS Acquires Prediktor

TGS Acquires Prediktor

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01 Jul 2022 07:00 CEST

Company Name

TGS ASA

ISN

NO0003078800

Market

Oslo Børs

Symbol

TGS

OSLO, Norway (1 July) - TGS ASA ("TGS"), a global provider of energy data and
intelligence, announced today that it has acquired Prediktor AS ("Prediktor"), a
leading provider of asset management and real-time data management solutions to
renewable and energy asset owners.

Established in 1995, the company has carried out thousands of installations on
mission-critical industrial and energy assets on all seven continents, enabling
data-driven automated operations solutions and optimization of asset portfolios.

Prediktor's software and systems are being utilized on a large variety of
assets, including:

* Benban (Egypt), the world's largest PV solar plant, built in 2019;
* Dogger Bank (UK), the world's largest offshore wind farm, currently under
construction;
* Johan Sverdrup oil field (Norway) delivery in 2019, one of the world's
largest offshore oil & gas assets developed in recent times;

Based in Fredrikstad, Norway, with 40 employees, Prediktor counts some of the
world's leading renewable energy producers among its clients. The company
currently supports 7 GW of renewable energy assets (mainly PV solar), with a
solid pipeline of further installations. The asset management solutions help
clients manage operational risks and optimize asset performance by monitoring
projects, forecasting energy production, recommending actions and automating
decision-making.

Prediktor also provides data management applications that organize Industrial
Internet of Things sensor data (IIoT), helping clients capture, validate, store
and contextualize real-time data. Globally leading energy and industrial
companies are among Prediktor's data management customers.

Kristian Johansen, CEO at TGS, commented: "I am very pleased to announce the
acquisition of Prediktor. The company has an impressive track record of
providing cutting-edge data-driven solutions and superior customer service to
energy companies worldwide - a cultural fit with TGS. In February 2021, we
introduced our New Energy Solutions initiative, which provides data and insights
for industries actively contributing to reducing greenhouse gas emissions. Since
then, we have launched several organically-developed data-driven solutions for
offshore wind, geothermal energy and carbon storage, as well as acquired
offshore wind market intelligence provider 4C Offshore, Ltd. Prediktor will
become another important building block for realizing our vision of creating an
energy industry gateway providing integrated solutions for data and actionable
insights to facilitate decision making, project development and asset
performance management across energy project life cycles and markets."

Espen Krogh, CEO of Prediktor adds: "Prediktor has through the past 27 years
attracted unique talent in the field of industrial digitalization, crafting
unique and innovative products and services for our clients. The last couple of
years we have expanded our focus on the Energy Transition, driven by the high
customer demand for our deep industrial experience and field proven products in
this rapidly growing segment.

We are currently in a unique phase of industrial energy asset building of wind
and solar assets at a vast global scale. Prediktor's biggest challenge is the
ability to scale fast enough in all our business processes to deliver to our
clients' ambitious pipeline. In TGS, we see the vision, resources, agile-get-
the-job-done culture and infrastructure to meet this challenge: TGS is the
perfect new home for Prediktor."

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.

About Prediktor
Prediktor is a leading provider of asset management and real-time data
management solutions to renewable- and energy asset owners. The Company uses
decades of experience with industrial digitalization to enable its clients with
data-driven operations and optimization of their asset portfolios. Prediktor
automates asset management of portfolios using expertise in advanced prediction
models and delivers future-proof solutions and no vendor lock-in with adherence
to digital standards.

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 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 product at costs commensurate with profitability, as
well as volatile market conditions, which have been exacerbated by the COVID-19
pandemic and the severe drop in oil prices. 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.

For more information, visit TGS.com (http://www.tgs.com) or contact:

Sven Børre Larsen
Chief Financial Officer
[email protected] (mailto:[email protected])

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Source

TGS ASA

Provider

Oslo Børs Newspoint