TGS Signs LOA for Proprietary 4D OBN Survey in the U.S. Gulf of Mexico

TGS Signs LOA for Proprietary 4D OBN Survey in the U.S. Gulf of Mexico

Issuer

TGS ASA

OSLO, Norway (6 February 2023) - TGS, a global provider of energy data and
intelligence, today announced that it signed an LOA to conduct a proprietary 4D
OBN survey in Walker Ridge canyon in the U.S. Gulf of Mexico. The survey is
planned to mobilize in Q3 2023 with a duration of approximately 100 days.

Kristian Johansen, CEO at TGS, commented: "In January, TGS acquired Magseis
Fairfield with the ambition to create a unique offering of robust data
processing and imaging quality, best-in-class OBN technology, and a leading
multi-client business. We are excited at the opportunity to enhance our
capabilities to create a stronger, more competitive, and commercially successful
organization. In good collaboration with one of our key clients, we are pleased
to announce this OBN survey over a key asset in a strategically important
region. Our first contract announcement since the acquisition further
strengthens our OBN backlog for 2023 and positions TGS well for further 4D
activities in the U.S. Gulf of Mexico."

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.

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:
Access the news on Oslo Bors NewsWeb site