TGS ASA

Regulatory Filings • Jan 3, 2023

TGS Announces New 2D Seismic Survey Offshore Bangladesh

TGS Announces New 2D Seismic Survey Offshore Bangladesh

OSLO, Norway (03 January 2023) - TGS, a global provider of energy data and

intelligence, today announced a new regional multi-client 2D seismic program

offshore Bangladesh in partnership with SLB and Petrobangla.

The program's initial phase will comprise approximately 11,000 line kilometers

of newly acquired high-resolution broadband 2D seismic data on a regional scale

to enhance the geological understanding of the prospective Bengal Fan. In

addition, the data will also be an essential tool for acreage evaluation,

supporting future license rounds under the soon-to-be-revised fiscal terms

widely anticipated by the industry.

The overall program plans to encompass around 32,000 line kilometers of multi-

client seismic data covering most of offshore Bangladesh. The new data will be

acquired using long offset and long record lengths to image the deeper sections,

and will be processed through modern high-end broadband Pre-Stack Time and Depth

migrated (PSTM/PSDM) workflows.

Kristian Johansen, CEO at TGS, commented, "We're pleased to commence this multi-

phase seismic program that will provide a much-needed regional framework for

understanding the Bengal Fan, considered one of the most extensive unexplored

frontier basins remaining in the world. Following the successful completion of

our extensive East Coast India 2Dcubed reprocessing project, we continue to

provide a seismic-fuelled boost across the Bay of Bengal to support offshore

exploration in this region and augment license round decision-making."

The acquisition is planned to commence in early January 2023, with final

processing deliverables anticipated in Q1 2024. Fast track results will be

available for 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 TGS' reliance on a cyclical industry and principal customers, TGS'

ability to continue to expand markets for licensing of data, and TGS' ability to

acquire and process data product at costs commensurate with profitability, as

well as volatile market conditions, which have been exacerbated by the COVID-19

pandemic and the severe drop in oil prices. 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)