TGS ASA

TGS Expands Gulf of Mexico Presence with Key OBN Data Acquisition Contract for Repeat Client

OSLO, Norway (26 October 2023) - TGS, the leading global provider of energy data

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

(OBN) data acquisition contract in the Gulf of Mexico (GoM) for a repeat

customer. The project's acquisition will start in Q4 2023 and reach completion

during Q1 2024.

Kristian Johansen, CEO at TGS, commented: "This project, for a repeat customer,

further highlights the integral role OBN acquisition has in providing our

clients improved seismic data quality and help them make better reservoir

development and management decisions."

In addition to delivering unparalleled seismic data quality, TGS' OBN solutions

offer an array of benefits. These innovative technologies provide clients with

deeper insights into reservoirs, significantly reducing uncertainty in

exploration and development. With the ability to access critical data through

OBN technology, clients can optimize their reservoir management, streamline

decision-making and enhance their overall operational efficiency. This project

marks another milestone in TGS' commitment to delivering cutting-edge solutions

that empower the energy industry to thrive.

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

AI Terminal