TGS ASA

Regulatory Filings • Aug 19, 2024

TGS Expands Exploration Efforts in Brazil with Launch of PAMA 3D Phase 1 Survey

TGS Expands Exploration Efforts in Brazil with Launch of PAMA 3D Phase 1 Survey

OSLO, Norway (19 August 2024) - TGS, a leading provider of energy data and

intelligence, is pleased to announce the commencement of the PAMA 3D Phase 1

Survey in the Equatorial Margin of Brazil. This survey covers an extensive area

of 19,343 square kilometers and more than 25 future exploration blocks within

the Pará-Maranhão Basin, one of the world's largest major unexplored and highly

prospective basins.

The PAMA 3D Phase 1 Survey expands TGS' data coverage in this promising region,

building on previous 3D surveys covering more than 60,000 square kilometers. The

Equatorial Margin has drawn industry attention due to nearby prolific successes

in neighboring Guyana and Suriname, sparking new initiatives in northern Brazil.

These efforts target reservoir quality sands within deepwater fan systems,

sourced from Amazon River-related drainage, in a diverse range of plays, from

stratigraphic pinch-outs at the paleo-slope edge to anticline structures within

the fold-and-thrust belt extending along the margin.

Kristian Johansen, CEO at TGS, commented: "The Equatorial Margin represents one

of the most exciting exploration frontiers today. With the PAMA 3D Phase 1

survey, TGS continues to provide the industry with vital data to explore and

realize the potential of this underexplored region. This survey demonstrates

TGS' strength through the value chain. In addition to developing and owning the

survey, we will use our own high-end streamer vessels to acquire the data, as

well as our own imaging capacity. Finally, the data will be delivered to

customers through the TGS data management solution."

This new 3D seismic dataset will address imaging challenges in the region's

complex geology, providing valuable insights for future exploration efforts.

The survey is supported by industry funding and reinforces TGS' commitment to

delivering top-tier data to the energy sector.

For more information about TGS and its ongoing projects, visit www.tgs.com.

About TGS

TGS provides advanced data and intelligence to companies active in the energy

sector. With leading-edge technology and solutions spanning the entire energy

value chain, TGS offers a comprehensive range of insights to help clients make

better decisions. Our broad range of products and advanced data technologies,

coupled with a global, extensive and diverse energy data library, make TGS a

trusted partner in supporting the exploration and production of energy resources

worldwide. For further information, please visit www.tgs.com

(https://www.tgs.com/).

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 or contact:

Bård Stenberg

IR & Communication

investor@tgs.com