TGS-NOPEC Geophysical Company ASA

07/01/2024 | Press release | Distributed by Public on 07/01/2024 09:15

TGS Launches New Chapter with Announcement of Merger Completion, New Executive Team and Capital Markets Day

TGS Launches New Chapter with Announcement of Merger Completion, New Executive Team and Capital Markets Day

01 Jul 2024 17:14 CEST

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Issuer

TGS ASA

OSLO, Norway (1 July 2024) - TGS, a global leader in energy data and
intelligence, today launched a new chapter in its 43-year history. The company
is excited to announce the completion of the merger with PGS, a new Executive
team and a Capital Markets Day on 29 August 2024. Today's announcement
positions TGS as the foremost data and services company across the energy value
chain.

"This is more than a merger of two companies," said Kristian Johansen, CEO at
TGS. "It's a blending of strengths, uniting our robust financial performance,
exceptional customer service, operational excellence, cutting-edge technology
and innovation. Our new executive team is poised to drive forward these
advancements with a fresh strategic vision, ensuring that our combined expertise
translates into greater value for our customers and shareholders; while our new
brand identity captures our commitment to being a strategic partner for energy
companies worldwide, providing the insights and solutions needed for today and
anticipating the challenges of tomorrow."

Capital Markets Day, 29 August 2024, Oslo:

The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its
capabilities to support energy exploration and production on a global scale. As
the industry evolves, TGS is ideally positioned to serve the entire energy
market with more comprehensive, advanced solutions. This integration will enable
the Company to leverage a wider pool of technological resources and expertise,
significantly boosting its operational efficiency, innovation and customer
engagement strategies. TGS leadership will present more information on the
vision for the new Company at a Capital Markets Day, to be held in Oslo on 29
August 2024.

The New TGS Executive Team:

The newly formed executive team at TGS combines the strengths and expertise of
both companies, bringing together a wealth of experience and fresh perspectives
to enhance the Company's operations. The team comprises:

* Kristian Johansen, Chief Executive Officer (Houston) - Bringing extensive
leadership and industry expertise, Kristian continues to drive TGS'
strategic initiatives, steering the company towards new opportunities and
enhanced operational excellence within the energy market.
* Sven Borre Larsen, Chief Financial Officer (Oslo) - With over 20 years of
experience in financial management within the energy sector, Sven will
continue to oversee financial strategies that enhance our market leadership
and support sustainable growth.
* Rob Adams, EVP Operations (Oslo) - With over 25 years of experience in the
seismic industry, including leadership roles in PGS new ventures,
processing, and operations, Rob will oversee project delivery and
operational excellence for the company's offshore operations and data
acquisition technologies.
* Whitney Eaton, EVP Sustainability and Communication (Houston) - With over
15 years of legal and leadership experience within compliance,
sustainability, HR and IT, Whitney will continue to drive forward TGS'
sustainability and communication strategies and lead the marketing,
sustainability and compliance teams.
* Wadii El Karkouri, EVP Imaging and Technology (Houston) - With over 25 years
of leadership experience in the energy and technology industries, including
SLB and AWS, Wadii will drive innovation and technological advancements in
seismic processing, data analytics and digitalization across the company.
* David Hajovsky, EVP Multi-client (Houston) - Bringing over 15 years of
experience in the energy sector, David has held various leadership roles
within both TGS and PGS and will continue to oversee and drive TGS' global
multi-client strategies and initiatives.
* Carel Hooijkaas, EVP New Energy Solutions (Houston) - With over 25 years of
experience in the oilfield services and equipment industry, including as CEO
of Magseis Fairfield, Carel will lead TGS' New Energy Solutions covering
wind, solar and CCS, as well as 4C Offshore and Prediktor.
* Nathan Oliver, EVP Contract (Houston) - With a career spanning over three
decades in the energy sector, including leadership roles in multi-client,
contract and imaging across the globe, and most recently leading PGS' entire
Sales and Services organization, Nathan will drive TGS' contract acquisition
strategies and initiatives.
* Kristin Omreng, EVP People and Culture (Oslo) - Bringing nearly 20 years of
HR and Organizational Development experience, managing and developing global
organizations in the energy industry, including at Aker Solutions and PGS,
Kristin will lead initiatives that enhance TGS' people and culture
strategies.
* Tana Pool, EVP Legal (Houston) - With vast legal experience through her work
as General Counsel in both the energy and construction industries and prior
to that with several global law firms, Tana will continue to provide
strategic legal guidance to support TGS' operations and growth.

The New TGS Brand Identity:

TGS also unveiled its new brand identity today. The redesigned TGS logo
represents a blend of heritage, innovation, and financial strength. It maintains
elements from the PGS brand, symbolizing the Company's ongoing leadership in
technology and operational excellence. The new visual identity supports TGS'
mission to deliver a wide variety of energy data and solutions that meet current
demands while foreseeing future needs.

"Our refreshed brand identity signifies a strategic evolution in our journey,"
Johansen added. "It combines our historical strengths with a progressive
outlook, ensuring we remain at the forefront of the energy sector. We're excited
to launch this new chapter with a clear vision and a strengthened commitment to
our stakeholders."

About TGS:

TGS provides advanced data and intelligence to companies active in the energy
sector. With leading-edge technology and solutions spanning the entire energy
value chain, TGS offers a comprehensive range of insights to help clients make
better decisions. Our broad range of products and advanced data technologies,
coupled with a global, extensive and diverse energy data library, make TGS a
trusted partner in supporting the exploration and production of energy resources
worldwide.

For further information, please visit www.tgs.com (http://www.tgs.com).

Access the TGS press kit here. (https://www.tgs.com/media-events/press-kit)

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.

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

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

More information:
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Source

TGS ASA

Provider

Oslo Børs Newspoint

Company Name

TGS ASA

ISIN

NO0003078800

Symbol

TGS

Market

Oslo Børs