TGS ASA — M&A Activity 2021

May 12, 2021

TGS Acquires 4C Offshore Ltd.

TGS Acquires 4C Offshore Ltd.

OSLO, Norway - (12 May 2021) - TGS-NOPEC Geophysical Company ASA ("TGS"), a

global provider of energy data and intelligence, announced today that it has

acquired 4C Offshore Ltd. ("4C Offshore"), a leading market intelligence and

consultancy firm, providing research and insights to the offshore wind industry.

4C Offshore offers a broad suite of data, analytics and services for the

offshore wind industry. With its digital platform, the company provides

developers, operators, asset managers, equipment providers and construction

companies with key data and insights for the development and operations of

offshore wind farms. Among 4C Offshore's customers are some of the most active

players in the offshore wind industry.

Based in Lowestoft, UK with 29 employees, 4C Offshore provides data on more than

2,000 offshore wind projects. The company has recurring revenue streams from a

diversified base of almost 350 clients, serving 2,200 users. In 2020,

subscription payments for the company's data services account for almost 80% of

revenues.

"We are pleased to announce 4C Offshore as the first acquisition following the

launch of our New Energy Solutions business earlier this year. The company

carries a strong reputation within the industry for its quality data that is

highly trusted for asset-level decisions. The strengths of 4C Offshore fit

perfectly with TGS' ambition to become the leading global provider of energy

data and insights to support decision-making processes across the energy value

chain," commented Kristian Johansen, CEO at TGS.

"I continue to be extremely proud of what we have achieved at 4C Offshore in

establishing ourselves as a leading provider of market intelligence and insight

to the offshore wind industry and offshore electricity grid sector.  We look

forward to working with TGS and the New Energy Solutions team to enhance our

common platform in the renewable energy industry. Last year renewable

electricity sources grew at their fastest rate in two decades, despite the

pandemic. Together with TGS, we expect to grow and improve upon our services and

capitalize on the expected increase in demand for high quality data and insights

on offshore wind," stated Chris Anderson, Chairman and CEO at 4C Offshore.

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.

About 4C Offshore

4C Offshore is a leading consultancy and market research organization targeting

the offshore energy markets. The company has specialized in providing market

intelligence for the offshore wind industry and offshore electricity sector as

well as consultancy services related to subsea cables. For more information,

visit www.4coffshore.com (http://www.4coffshore.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 TGS' reliance on a cyclical industry and principal customers, TGS'

ability to continue to expand markets for licensing of data, and TGS' ability to

acquire and process data product at costs commensurate with profitability, as

well as volatile market conditions, which have been exacerbated by the COVID-19

pandemic and the severe drop in oil prices.  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

SVP Strategy

+47 90 94 36 73

investor@tgs.com (mailto:investor@tgs.com)