TGS Awarded Ultra High Resolution 3D Acquisition Contract in Europe

OSLO, Norway (16 July 2024) – TGS, a leading global provider of energy data and intelligence, is pleased to announce the award of an Ultra High Resolution 3D (UHR3D) acquisition contract in Europe, offering substantially more detailed subsurface data for shallower targets compared to traditional seismic acquisition methods. This 45-day contract reinforces and strengthens TGS' position in the offshore wind, data and characterization market, and underscores its commitment to delivering high-quality data solutions. The Ramform Vanguard will mobilize for the survey in Q3. TGS will also handle the imaging and interpretation of the collected data including UHR3D and Auxiliary measurements.

Kristian Johansen, CEO of TGS, stated, “Our geophysical approach to map and understand the shallow subsurface layers with a UHR3D system is significantly more efficient than conventional site survey solutions, and energy companies value the shorter lead time for accessing high-quality data. The offshore wind site characterization market is growing, and this project demonstrates the vital role that data and subsurface characterization play in our clients’ decision-making process for offshore wind projects. We remain excited about the growth opportunities for New Energy in the new TGS.”

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 (https://www.tgs.com/).

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 or contact:

Sven Børre Larsen
Chief Financial Officer
[email protected]