TGS and Chevon Enter into a Long-term Deep Water Seismic Capacity Agreement

05 Nov 2025 07:00 CET

OSLO, Norway (5 November 2025) - TGS and Chevron have signed a three-year
capacity agreement for marine streamer and OBN acquisition services. The minimum
firm commitment under the three-year term of the capacity agreement is 18 months
of a combination of OBN and streamer acquisition services. The parties plan to
collaborate on seismic acquisition projects utilizing TGS streamer and OBN crews
for exploration and development projects. The CA will also deepen the
relationship between Chevron and TGS and drive collaboration on technology
development in a wide range of geophysical areas from survey design, acquisition
technology, data collection, and data integration. The previously announced St
Malo 4D OBN reservoir monitoring contract in the Gulf of America, will be
included in this agreement and will kick start the collaboration immediately.

Kristian Johansen, CEO of TGS, commented, "We are thrilled to announce a major
milestone in our commitment to evolving the global marine seismic market: the
signing of the global Capacity Agreement (CA). Chevron, a true industry explorer
and long-term client, is ideal for this strategic collaboration. This agreement
not only provides crucial utilization and visibility for both parties but also
creates an opportunity for collaboration across our wider service portfolio. Our
shared focus on new frontier areas makes us highly complementary, and we are
excited to immediately begin supporting Chevron's global exploration and
reservoir management strategies".


For more information, visit TGS.com or contact:

Bård Stenberg
VP IR & Business Intelligence
Mobile: +47 992 45 235
investor@tgs.com

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.

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