TGS Commences 3D Reprocessing Project Offshore Uruguay

10 Nov 2022 07:00 CET

OSLO, Norway (10 November 2022) - TGS, a global provider of energy data and
intelligence, today announced it has commenced a 3D data reprocessing program
offshore Uruguay. Tannat 3D PSDM Repro consists of 25,000 square kilometers,
covering blocks in the active Uruguay Licensing Round.

The data will be regionally integrated and reprocessed using advanced
techniques, including de-ghosting, improved velocities and pre-stack merge and
migration to depth. This newly enhanced data, combined with TGS' existing
23,000 km of 2D seismic coverage in the area, will allow for the definition of
play fairways, leads, and exploration targets - providing E&Ps with the best
imaged data to make the most informed decisions ahead of and after the license
round.

Kristian Johansen, CEO at TGS, commented, "We are excited to embark on this
project and further position TGS in the region supporting the future exploration
success Offshore Uruguay."

Early out PSDM data will be available in Q1 2023, with final products to be
delivered in Q3 2023.

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 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
investor@tgs.com (mailto:investor@tgs.com)

More information:
Access the news on Oslo Bors NewsWeb site

575260_MAP_TGS Commences 3D Reprocessing Project Offshore Uruguay.pdf