TGS ASA

Business and Financial Review • Feb 9, 2023

TGS and CGG Announce a Dense OBN Survey in Balder and Ringhorne Areas of Norwegian Continental Shelf (NCS)

TGS and CGG Announce a Dense OBN Survey in Balder and Ringhorne Areas of Norwegian Continental Shelf (NCS)

OSLO, Norway (09 February 2023) - TGS, a global provider of energy data and

intelligence, and CGG, a global technology and HPC leader have been jointly

awarded the acquisition and imaging of a dense ocean bottom node (OBN) multi-

client seismic survey in the Balder and Ringhorne areas of the Norwegian

Continental Shelf (NCS).

The Heimdal Terrace OBN survey, located directly north of the Utsira OBN survey

in the North Sea, will span an additional 500 square kilometer area under

receivers (AUR) to increase the contiguous multi-client OBN coverage in the

region to 3,778 square kilometers AUR. The survey area covers a mature part of

the North Sea, including the Balder and Ringhorne fields, the Iving/Evra and

Enniberg discoveries, and surrounding infrastructure-led exploration (ILX) areas

for potential tiebacks to existing infrastructure.

TGS will be the operator throughout the acquisition phase. The company will

apply its experience and technical expertise in managing many complex OBN

acquisition programs in the North Sea and other regions to provide valuable

insight into enhanced exploration opportunities across this part of the NCS.

CGG will apply its proprietary OBN processing and imaging technology, including

time-lag full-waveform inversion, to create a high-quality 3D volume that will

enhance the resolution and structural definition of the complex geology and

reservoirs in the region.

Kristian Johansen, Chief Executive Officer at TGS, commented, "With this latest

OBN survey, we continue our ongoing commitment to support our customers with the

data they need to maximize the longevity of their production activities and

discover new hydrocarbon reserves in mature areas. This acquisition project will

further cement our leading position in delivering high-quality, multi-client OBN

data to the industry."

Sophie Zurquiyah, CGG CEO, said, "CGG is pleased to partner with TGS to deliver

this new OBN survey to meet strong industry demand for high-definition seismic

data in this region. Clients continue to recognize the value of our advanced OBN

imaging technology and expertise and the resulting data will support continued

exploration and development in this mature, and very prolific part of NCS."

The acquisition will commence in April 2023, with final processed deliverables

to be completed by the end of Q2 2024.

The 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)