TGS ASA

Regulatory Filings • May 30, 2023

TGS Expands Multi-Client Coverage in the Sarawak North Luconia Province

TGS Expands Multi-Client Coverage in the Sarawak North Luconia Province

OSLO, Norway (30 May 2023) - TGS, a global provider of energy data and

intelligence, in partnership with PGS and Schlumberger, has secured pre-funding

for a 6,885 square kilometer multi-client 3D seismic survey offshore Malaysia in

North Luconia Province of the Sarawak Basin. This new acquisition is due to

commence in June 2023.

This survey is the second phase of a multi-year contract awarded initially by

Petronas in August 2020 to acquire and process up to 105,000 square kilometers

of multi-client 3D data over a 5-year period in the Basin. This survey builds on

the initial phase of this project in the Sarawak North Luconia Province, which

commenced in 2021 and covered 8,400 square kilometers.

Kristian Johansen, TGS CEO, commented, "TGS has built an expansive multi-client

data library across the Asia-Pacific region, and we are pleased to return to the

Sarawak Basin with our partners.  Sarawak is an area that has recently

experienced multiple oil and gas discoveries, and we expect this to be a very

important basin for future exploration. We continue to work closely and

collaboratively with our customers, partners and other stakeholders in Malaysia

to drive exploration success."

"As the custodian of Malaysia's petroleum resources, Malaysia Petroleum

Management (MPM), PETRONAS is actively enhancing seismic data sets in the

country that will introduce new plays to be explored to our clients, especially

in imaging the pre-MMU play in the deep-water area of Sarawak Basin," he added.

Survey acquisition is expected to conclude in August 2023, with final

deliverables available in Q2 2024. Interim results will be available to assist

with early acreage evaluation.

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

investor@tgs.com (mailto:investor@tgs.com)