TGS Announces Pelotas Sul Phase 1 Multi-client Survey Offshore Brazil

18 Jun 2026 07:00 CEST

OSLO, Norway (18 June 2026) - TGS, a global provider of energy data and
intelligence, in joint venture¹ with SLB, announce the Pelotas Sul Phase 1
multi-client 3D seismic survey in the Pelotas Basin offshore southern Brazil.
The survey covers approximately 13,500 square kilometers.

The Ramform Tethys mobilized for the survey in December 2025, with data
acquisition expected to be completed in early Q3 2026.

The project marks a significant step in expanding TGS' high?quality seismic
coverage across one of Brazil's most promising frontier regions. The Pelotas
Basin has seen growing interest in recent years, supported by extensive geologic
analogs, including successful exploration results along the conjugate margin.
The area features a diverse range of play concepts, including turbidite systems,
deep?water channels, and stratigraphic and structural traps that remain
underexplored.

Pelotas Sul Phase 1 includes a balanced mix of held and open acreage, providing
opportunities for both near?term evaluation and additional sales related to
future licensing rounds.

Kristian Johansen, CEO of TGS, commented: "Pelotas Sul Phase 1 will provide
valuable subsurface insight and help broaden the understanding of a basin that
is gaining considerable client attention. We have earlier announced Pelotas
Norte, in the Northern part of the Pelotas Basin. We are very pleased to
announce Pelotas Sul and support our customers as they evaluate new exploration
opportunities in the southern part of the Pelotas Basin."

(¹For certain multi-client library projects, TGS invests in the project with
other parties and has cooperation agreements whereby revenues and costs will be
shared. TGS recognizes the contribution from the partner as contract revenues in
the multi-client segment. For Q2 2026 the contract revenues from joint
arrangements are expected to be approximately in line with the Q1 2026 level,
when USD 32.5 million was recorded as contract revenues in the multi-client
segment.)

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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