TGS ASA

Business and Financial Review • Jun 6, 2023

TGS Expands Multi-Client Coverage for Malvinas 3D Offshore Argentina

TGS Expands Multi-Client Coverage for Malvinas 3D Offshore Argentina

OSLO, Norway (6 June 2023) - TGS, a leading global provider of energy data and

intelligence, announced today Malvinas 3D Phase III, an expansion of its multi-

client 3D coverage in Malvinas Basin offshore Argentina. The company plans to

acquire a ~7,500 square kilometer 3D seismic survey and upon completion, TGS

will have built a 3D library of 25,000 square kilometers in the Malvinas Basin.

Kristian Johansen, TGS CEO, commented, "We are pleased to announce the expansion

of our multi-client coverage for the Malvinas 3D project offshore Argentina.

This project demonstrates our commitment to continuously providing our clients

with the most up-to-date and accurate information to drive their exploration

efforts. By leveraging our advanced seismic imaging technology, we aim to unlock

the full potential of this region and support the energy industry in its pursuit

of sustainable energy resources."

Acquisition of Malvinas 3D Phase III is expected to commence by early 2024.

This 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)