TGS Announces Major 3D Reprocessing Program in Malaysia

13 Apr 2023 12:30 CEST

OSLO, Norway (12 April 2023) - TGS, a global energy data and intelligence
provider, announced the commencement of the 20,347 square kilometers Peninsular
Malaysia Stage 2 Regional 3D reprocessing. This second phase of the Peninsular
Malaysia reprocessing project is part of a multi-year basin revitalization
initiative being performed in partnership with DownUnder GeoSolutions (DUG). In
combination with the 16,957 square kilometers Stage 1 project, the data coverage
represents one of the largest multi-client 3D reprocessing projects ever
undertaken in Asia.

Thirty-two 3D seismic surveys will be reprocessed in Stage 2, comprising a mix
of vintages covering held acreage, MBR License Blocks, and open acreage in the
Malay Basin. The result will create a single contiguous 3D Pre-Stack Time and
Pre-Stack Depth Migrated (PSTM & PSDM) volume using a workflow that utilizes
FWI, Q-Migration, and Q-Tomography to maximize imaging clarity, especially over
complex features such as gas clouds. It will grant oil and gas companies access
to a modern regional scale dataset enabling evaluation of the Malay Basin.

In line with Malaysia's carbon-neutral goal of 2050, the continued expansion of
this dataset will allow improved regional mapping and structural understanding
and the identification of new exploration and Carbon Capture and Storage (CCS)
opportunities.

Kristian Johansen, TGS CEO, commented, "Through the latest stage of our
extensive 3D reprocessing project, we continue to back exploration across the
Malay Basin to enhance future exploration and help address gas supply
challenges. "

The project is supported by industry funding. Final time and depth migrated
products are expected in mid-2025, although interim products will be available
much earlier.

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)

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