TGS ASA

TGS Set to Elevate Gulf of Mexico Operations with Pending Award of Multi-Year Ocean Bottom Node Projects

OSLO, Norway (30 August 2023) - TGS, the leading global provider of energy data

and intelligence, today reported a pending award for multiple proprietary Ocean

Bottom Node (OBN) projects in the Gulf of Mexico (GoM). The projects will be

acquired over a 3-year duration. The negotiations and scope will be finalized

during Q3 2023, with the initial project targeted to mobilize in late Q1 2024.

Kristian Johansen, CEO at TGS, commented: "This progress and endeavour towards

confirming a long-term commitment from a major producer in the Gulf of Mexico

and strategic customer reflects our unwavering commitment to innovation and

excellence and highlights our ability to adapt to evolving industry needs

worldwide. Through our continued focus, service quality and commitment to

operating safely and sustainably, we will continue to support the industry to

maximise the potential of existing developments."

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://tgs.com/) or contact:

Sven Børre Larsen

Chief Financial Officer

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