TGS ASA

TGS Secures Three-Month Proprietary OBN Data Acquisition Contract in the North Sea

OSLO, Norway (20 December 2023) - TGS, a leading global provider of energy data

and intelligence, has been awarded a three-month proprietary Ocean Bottom Node

(OBN) data acquisition contract in the North Sea for a repeat customer. The

project's acquisition will begin in Q2 2024.

Kristian Johansen, CEO at TGS, commented: "This project, for a major energy

customer, further highlights the integral role OBN acquisition has in providing

our clients improved seismic data quality and help them make better reservoir

development decisions."

TGS remains committed to delivering exceptional value to its customers through

this endeavor, emphasizing the pivotal role that OBN technology plays in

advancing seismic data quality. The Company's dedication to innovation ensures

that clients receive reliable data and gain unparalleled insights for informed

decision-making.

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

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