TGS-NOPEC Geophysical Company ASA

06/16/2022 | Press release | Distributed by Public on 06/15/2022 23:00

TGS Announces the World's First Multi-Client Offshore Wind Measurement Campaign

Tid16.06.2022, 05:00:01
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TGS Announces the World's First Multi-Client Offshore Wind Measurement Campaign

OSLO, Norway (16 June 2022) - TGS, a global energy data and intelligence
provider, announced the start of the world's first multi-client offshore wind
measurement campaign today.

The project will enhance and further validate TGS' expansive high-resolution
coverage of numerical weather prediction (NWP) model data by including highly
sought-after floating LiDAR wind measurements (https://www.tgs.com/our-
data/wind/wind-measurement) in the New York Bight area off the US East Coast.

This unique combination of trusted wind resource models and real measurements
will enable the most accurate forecasting of the wind energy potential in the
area.

The multi-client approach offers offshore wind stakeholders the added benefits
of reduced development costs and timelines, as the TGS-deployed floating LiDAR
will provide data and insights on a subscription basis to many customers within
the region with the aim to enhance the knowledge and reduce wind flow modeling
uncertainties.

In this project, TGS is utilizing one of the world's most advanced floating
LiDAR systems with the highest level of accuracy (stage 3 validation) from
EOLOS. The data will be acquired continuously throughout a two-year deployment
campaign, and the data stream will be quality-controlled and made available to
customers daily. In addition to the LiDAR wind speed measurements, the data
package will include critical metocean and environmental data such as
significant wave heights, ocean current profile, and acoustic monitoring of
whales, dolphins, birds, and bats.

The data will be delivered via the Wind AXIOM platform, TGS' comprehensive site
evaluation and wind data analytics tool. Wind AXIOM allows offshore wind
developers and stakeholders to constrain the most influential factors affecting
the viability of offshore wind projects, using wind models and measurements to
answer questions related to energy output, annual revenue, supply fluctuations,
and more. Wind model inputs are complemented by a range of cost-influencing
factors, creating a tool that improves the quality and speed of decisions by
offering a configurable experience for various participants in the offshore wind
market.

Kristian Johansen, CEO at TGS, commented: "I am pleased to see the momentum we
are creating within the TGS New Energy Solutions portfolio; our ambition is to
generate actionable insights and create pathways for the most efficient and
highly accurate assessments of new offshore wind lease rounds. This project is a
prime example of such development."

Katja Akentieva, Vice President, New Energy Solutions, Western Hemisphere added,
"The LiDAR initiative demonstrates that TGS' business models and digital
capabilities are leveraged and supported by the customers in the fast-growing
offshore wind market segment. Our recently developed Wind AXIOM data analytics
platform will be significantly strengthened and differentiated by the inclusion
of the floating LiDAR wind speed and metocean measurements. We plan to expand
this initiative in high potential offshore wind regions in the United States and
beyond."

This project is supported by the offshore wind industry.

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 EOLOS
EOLOS offers a combination of wind, ocean and environmental turn-key measuring
solutions and digital services to the offshore wind industry. EOLOS obtained the
highest commercial maturity, known as Stage 3, in April 2022 as defined by the
UK's Carbon Trust. Stage 3 signifies the highest possible level of availability
and performance, providing minimal levels of uncertainty in site specific
measurements. EOLOS' products and digital services gather data efficiently for
offshore wind developers and operators globally accelerating the development
phase while lowering costs and risk. EOLOS' product, the FLS200
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.eolossolu
tions.com%2Fproduct%2F&data=05%7C01%7CJaclyn.Townsend%40tgs.com%7Cb55e2c3e558c49
97fdc008da4efe9f11%7Ccb81ae41c0e74a65a1e404c898e7a214%7C0%7C0%7C6379091527429310
84%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiL
CJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=XJAj601jqLU7LXxnsSGuUwR%2FsSq%2Fal3xGVV4kjNB
60g%3D&reserved=0), is a multi-purpose, autonomous buoy that integrates cutting
edge sensors to measure wind, ocean and environmental characteristics reducing
uncertainty and inherent risks during the development, operation and maintenance
phase of the Offshore Wind Farm. Learn more at, www.eolossolutions.com
(https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.eolossolut
ions.com%2F&data=05%7C01%7CJaclyn.Townsend%40tgs.com%7Cb55e2c3e558c4997fdc008da4
efe9f11%7Ccb81ae41c0e74a65a1e404c898e7a214%7C0%7C0%7C637909152742931084%7CUnknow
n%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%
3D%7C3000%7C%7C%7C&sdata=z1NM9xJp8yBJFJP7xkfTsgJMqtv8wD6AFjxDDE0x5Yo%3D&reserved
=0).

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])