TGS ASA

Business and Financial Review • Jun 19, 2025

TGS and Viridien Announce Launch of Laconia Phase III OBN Survey in the Gulf of America

TGS and Viridien Announce Launch of Laconia Phase III OBN Survey in the Gulf of America

OSLO, Norway (19 June 2025) - TGS, a global leader in energy data and

intelligence, in collaboration with Viridien, an advanced technology, digital

and Earth data company, today announced the commencement of Laconia Phase III in

the Gulf of America. This latest phase in the large-scale Laconia ocean bottom

node (OBN) survey program spans approximately 150 OCS blocks and follows the

well-received Laconia Phases I and II launched by Viridien in July 2024.

The program will be acquired by TGS and provide Ultra Long Offset OBN data using

TGS' ZXPLR(TM) nodes and the Sercel Tuned Pulse Source (TPS(TM)). TPS is a low-

frequency broadband marine seismic source that enhances geophysical imaging

clarity by improving low-frequency, deep penetrating sound energy. The Laconia

Phase III dataset, imaged by Viridien's Subsurface Imaging experts, will improve

subsurface clarity, aiming to unlock further potential in the central Keathley

Canyon area. This acreage is anticipated to be highly sought after in future

lease sales for those companies targeting the Paleogene play, which is

increasingly attractive following recent success in industry implementation of

20k technologies. Leveraging Viridien's advanced proprietary Elastic Full-

Waveform Inversion (E-FWI) and Reverse Time Migration (RTM) imaging

technologies, the Laconia Phase III survey is designed to deliver best-in-class

seismic data to support both exploration and development activities.

Laconia Phase III OBN acquisition started in May this year and will continue

through Q3 2025 with delivery of initial products scheduled for Q1 2026.  The

project is supported by industry funding.

"TGS remains committed to supporting the energy industry with the highest

quality seismic solutions," stated Kristian Johansen, CEO of TGS. "Laconia Phase

III represents another significant step forward in our ability to deliver

advanced data products in one of the world's most important offshore regions.

Through cooperation with Viridien and the combination of our leading edge OBN

acquisition and imaging technologies, we are confident this project will provide

tremendous value to our customers."

"The success of our Laconia OBN program is a compelling example of the value

that technological innovation brings to offshore exploration," said Sophie

Zurquiyah, CEO of Viridien. "By teaming up with TGS on Laconia Phase III, we are

leveraging our respective strengths to deliver a high-impact dataset in one of

the world's most prospective offshore regions. The early-out results from

Laconia Phase I have already attracted considerable industry attention,

highlighting the effectiveness of our advanced imaging capabilities."

For more information, visit TGS.com (http://www.tgs.com) or contact:

Bård Stenberg

VP IR & Communication

Mobile: +47 992 45 235

investor@tgs.com (mailto: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.