TGS ASA

TGS Awarded Ultra High Resolution 3D Acquisition Contract in Europe

OSLO, Norway (16 July 2024) - TGS, a leading global provider of energy data and

intelligence, is pleased to announce the award of an Ultra High Resolution 3D

(UHR3D) acquisition contract in Europe, offering substantially more detailed

subsurface data for shallower targets compared to traditional seismic

acquisition methods. This 45-day contract reinforces and strengthens TGS'

position in the offshore wind, data and characterization market, and underscores

its commitment to delivering high-quality data solutions. The Ramform Vanguard

will mobilize for the survey in Q3. TGS will also handle the imaging and

interpretation of the collected data including UHR3D and Auxiliary measurements.

Kristian Johansen, CEO of TGS, stated, "Our geophysical approach to map and

understand the shallow subsurface layers with a UHR3D system is significantly

more efficient than conventional site survey solutions, and energy companies

value the shorter lead time for accessing high-quality data. The offshore wind

site characterization market is growing, and this project demonstrates the vital

role that data and subsurface characterization play in our clients' decision-

making process for offshore wind projects. We remain excited about the growth

opportunities for New Energy in the new TGS."

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 (http://www.tgs.com) or contact:

Sven Børre Larsen

Chief Financial Officer

AI Terminal