TGS ASA

M&A Activity • Apr 13, 2023

TGS Announces Major 3D Reprocessing Program in Malaysia

TGS Announces Major 3D Reprocessing Program in Malaysia

OSLO, Norway (12 April 2023) - TGS, a global energy data and intelligence

provider, announced the commencement of the 20,347 square kilometers Peninsular

Malaysia Stage 2 Regional 3D reprocessing. This second phase of the Peninsular

Malaysia reprocessing project is part of a multi-year basin revitalization

initiative being performed in partnership with DownUnder GeoSolutions (DUG). In

combination with the 16,957 square kilometers Stage 1 project, the data coverage

represents one of the largest multi-client 3D reprocessing projects ever

undertaken in Asia.

Thirty-two 3D seismic surveys will be reprocessed in Stage 2, comprising a mix

of vintages covering held acreage, MBR License Blocks, and open acreage in the

Malay Basin. The result will create a single contiguous 3D Pre-Stack Time and

Pre-Stack Depth Migrated (PSTM & PSDM) volume using a workflow that utilizes

FWI, Q-Migration, and Q-Tomography to maximize imaging clarity, especially over

complex features such as gas clouds. It will grant oil and gas companies access

to a modern regional scale dataset enabling evaluation of the Malay Basin.

In line with Malaysia's carbon-neutral goal of 2050, the continued expansion of

this dataset will allow improved regional mapping and structural understanding

and the identification of new exploration and Carbon Capture and Storage (CCS)

opportunities.

Kristian Johansen, TGS CEO, commented, "Through the latest stage of our

extensive 3D reprocessing project, we continue to back exploration across the

Malay Basin to enhance future exploration and help address gas supply

challenges. "

The project is supported by industry funding. Final time and depth migrated

products are expected in mid-2025, although interim products will be available

much earlier.

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)