TGS ASA

TGS Secures Four-Year Extension for Reservoir Monitoring and Source Acquisition Contract in Norway

OSLO, Norway (1 November 2023) - TGS, the leading global provider of energy data

and intelligence, has been awarded a four-year extension to a proprietary

reservoir monitoring and source acquisition contract in Norway, with a further

option to extend by another two years.

Kristian Johansen, CEO at TGS, commented: "This project highlights the value and

performance we have delivered over the years, which has now triggered this long-

term extension. Long-term contracts like this turn our relationships with our

clients into a partnership, where we work together collaboratively to acquire

data for better reservoir development and management decisions."

TGS' reservoir monitoring and source acquisition services are renowned for their

comprehensive approach, utilizing cutting-edge technology to gather critical

data on subsurface reservoirs. By delivering real-time information on reservoir

behavior, TGS empowers energy stakeholders to make informed decisions, optimize

resource utilization and promote sustainable energy practices.

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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