TGS ASA

TGS Commences 3D Reprocessing Project Offshore Uruguay

OSLO, Norway (10 November 2022) - TGS, a global provider of energy data and

intelligence, today announced it has commenced a 3D data reprocessing program

offshore Uruguay. Tannat 3D PSDM Repro consists of 25,000 square kilometers,

covering blocks in the active Uruguay Licensing Round.

The data will be regionally integrated and reprocessed using advanced

techniques, including de-ghosting, improved velocities and pre-stack merge and

migration to depth. This newly enhanced data, combined with TGS' existing

23,000 km of 2D seismic coverage in the area, will allow for the definition of

play fairways, leads, and exploration targets - providing E&Ps with the best

imaged data to make the most informed decisions ahead of and after the license

round.

Kristian Johansen, CEO at TGS, commented, "We are excited to embark on this

project and further position TGS in the region supporting the future exploration

success Offshore Uruguay."

Early out PSDM data will be available in Q1 2023, with final products to be

delivered in Q3 2023.

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 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

Chief Financial Officer

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