TGS and CGG Announce a Dense OBN Survey in Balder and Ringhorne Areas of Norwegian Continental Shelf (NCS)

09 Feb 2023 06:55 CET

OSLO, Norway (09 February 2023) - TGS, a global provider of energy data and
intelligence, and CGG, a global technology and HPC leader have been jointly
awarded the acquisition and imaging of a dense ocean bottom node (OBN) multi-
client seismic survey in the Balder and Ringhorne areas of the Norwegian
Continental Shelf (NCS).

The Heimdal Terrace OBN survey, located directly north of the Utsira OBN survey
in the North Sea, will span an additional 500 square kilometer area under
receivers (AUR) to increase the contiguous multi-client OBN coverage in the
region to 3,778 square kilometers AUR. The survey area covers a mature part of
the North Sea, including the Balder and Ringhorne fields, the Iving/Evra and
Enniberg discoveries, and surrounding infrastructure-led exploration (ILX) areas
for potential tiebacks to existing infrastructure.

TGS will be the operator throughout the acquisition phase. The company will
apply its experience and technical expertise in managing many complex OBN
acquisition programs in the North Sea and other regions to provide valuable
insight into enhanced exploration opportunities across this part of the NCS.

CGG will apply its proprietary OBN processing and imaging technology, including
time-lag full-waveform inversion, to create a high-quality 3D volume that will
enhance the resolution and structural definition of the complex geology and
reservoirs in the region.

Kristian Johansen, Chief Executive Officer at TGS, commented, "With this latest
OBN survey, we continue our ongoing commitment to support our customers with the
data they need to maximize the longevity of their production activities and
discover new hydrocarbon reserves in mature areas. This acquisition project will
further cement our leading position in delivering high-quality, multi-client OBN
data to the industry."

Sophie Zurquiyah, CGG CEO, said, "CGG is pleased to partner with TGS to deliver
this new OBN survey to meet strong industry demand for high-definition seismic
data in this region. Clients continue to recognize the value of our advanced OBN
imaging technology and expertise and the resulting data will support continued
exploration and development in this mature, and very prolific part of NCS."

The acquisition will commence in April 2023, with final processed deliverables
to be completed by the end of Q2 2024.

The project is supported by industry funding.

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

More information:
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581758_TGS Heimdal Terrace OBN .pdf