TGS Secures Two-Month Proprietary OBN Data Acquisition Contract in the Gulf of Mexico

18 Dec 2023 07:00 CET

OSLO, Norway (18 December 2023) - TGS, the leading global provider of energy
data and intelligence, has been awarded a two-month proprietary Ocean Bottom
Node (OBN) data acquisition contract in the Gulf of Mexico. The project's
acquisition will start in Q1 2024.

Kristian Johansen, CEO at TGS, commented: "This project highlights the key role
OBN data plays in this vital basin. OBN technology provides the essential data
needed to visualize and understand the intricate structures within the Gulf of
Mexico, enabling our clients to make well-informed, data-driven decisions in
their field development strategies."

As the industry evolves, the adoption of OBN technology brings forth a myriad of
benefits for both the energy sector and its stakeholders. By employing OBN
technology, TGS ensures a more comprehensive and accurate understanding of
subsurface structures, paving the way for enhanced reservoir characterization
and improved imaging of complex geological formations. This advanced data
acquisition approach not only increases exploration success rates but also
contributes to more efficient resource utilization, ultimately reducing
operational risks and costs for clients.

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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