TGS ASA

Regulatory Filings • Jun 27, 2024

TGS Announces New Mutli-Client Onshore 3D Seismic Survey In The Appalachian Basin

TGS Announces New Mutli-Client Onshore 3D Seismic Survey In The Appalachian Basin

OSLO, Norway (27 June 2024) - TGS, a global leader in energy data and

intelligence, today announced a new multi-client onshore 3D seismic survey,

Birmingham 3D. The 206 KM2 survey is strategically located on the western flank

of the Appalachian Basin, aligning with the most prospective trend of the Utica-

Point Pleasant formation and Clinton sands.

Birmingham 3D will target multiple exploration zones, including the Ordovician

Trenton and Black River, Cambrian reservoirs, Ordovician Utica/Point Pleasant

and Silurian Clinton sands. This area is characterized by world-class source

rocks in the Devonian Marcellus and Ordovician Utica formations. Birmingham sits

just up-dip of the Point Pleasant - Utica condensate and light oil trend imaged

by TGS' Utica Merge 3D and will target the under-explored oil window of the

Point Pleasant. Utilizing advanced seismic imaging, deep-rooted structures will

be mapped, which are crucial for understanding hydrocarbon trapping, facies

changes, basin heat flow and accurately landing horizontals.

TGS will leverage its extensive well performance & log library to calibrate the

seismic subsurface data.  With access to 73,857 wells and 144,597 logs in the

Ohio portion of the Appalachian Basin, TGS also offers its proprietary formation

tops database, updated well performance data through its Well Data Analytics

platform, and Basin Temperature Modeling (BTM) products.

"TGS is committed to providing high-quality data and intelligence to drive

exploration and production success onshore United States," said Kristian

Johansen, CEO of TGS. "The Birmingham 3D survey represents a significant

investment toward understanding the full potential of the Appalachian Basin.

Alongside our other supporting products in the region, such as our extensive

well log library and interpretive products, we are confident this survey will

provide valuable insights for our clients."

The acquisition of Birmingham 3D is scheduled to commence in early Q4 2024.

Preliminary products are expected to be available by Q1 2025, and final data by

Q3 2025.

This project is supported by industry funding.

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)