TGS ASA

Regulatory Filings • Jun 26, 2024

TGS Announces New Wind and Metocean Measurement Campaign Offshore California

TGS Announces New Wind and Metocean Measurement Campaign Offshore California

OSLO, Norway (26 June 2024) - TGS, a global provider of energy data and

intelligence, has announced a new campaign for offshore wind and metocean

measurement located in Morro Bay, off the U.S. West Coast. This initiative

further expands the company's pioneering multi-client wind and metocean

measurement initiatives in key global offshore wind regions.

The campaign seeks to greatly enhance the industry's understanding of offshore

conditions across three wind energy lease areas in Morro Bay by calibrating TGS

proprietary wind models with observational data.

This three-year deployment in an area with an average depth of 1,000 meters will

be the first by TGS on the West Coast of the United States and will add to its

comprehensive library of wind and metocean data collected on the East Coast US,

Norway and Germany. The data gathered will offer crucial insights throughout the

floating wind farm development lifecycle. This includes environmental impact

assessments and technical decisions such as turbine selection, layout

optimization, foundation design, and operations and maintenance planning.

Additionally, it will enable more accurate modeling of capital expenditures

(CAPEX), operational expenditures (OPEX), potential energy production, and grid

requirements. High-quality ocean current measurements and tidal information

collected over this period will be valuable for grid connection planning, while

accurate atmospheric turbulence intensity observations will provide key inputs

for wind farm energy yield.

Supplied by EOLOS, the buoy is equipped with advanced sensors designed to

capture detailed measurements of wind, metocean, and environmental data. Key

metrics include wind speed and direction at turbine hub height, wave heights,

ocean current data across the full water column, and monitoring of birds, bats

and fish. Data will be continuously streamed, quality-controlled, and made

available daily to customers via Wind AXIOM, TGS' state-of-the-art site

evaluation and wind data analytics platform. Wind AXIOM enables wind developers

and stakeholders to improve the quality and speed of their decision-making

processes by identifying the most critical factors affecting the viability of

offshore wind projects.

As with all wind and metocean campaigns conducted by TGS, the multi-client

approach will allow multiple customers to subscribe to the same floating LiDAR

data, thus reducing development costs and timelines. Similar initiatives have

already been successfully deployed on the East Coast of the United States, in

Germany, and offshore Norway, where fleet-wide LiDAR data availability averages

94% across all TGS deployments at a 140-meter measurement height.

Kristian Johansen, CEO of TGS, commented, "TGS remains committed to supporting

the growth of the global offshore wind industry. We are excited to bring our

solutions to California, where floating wind technology is gaining momentum.

With our multi-client floating LiDAR campaign, we make high-quality wind and

metocean data more accessible, enhancing investment and planning decisions and

contributing to the success of U.S. offshore wind development. This ninth LiDAR

deployment within the last two years demonstrates our commitment and the multi-

client model's continued value to the offshore wind industry. It provides

superior data earlier to developers worldwide, helping them reduce risk

throughout the project lifecycle."

This deployment is supported by funding from the offshore wind industry and is

expected to be launched in Q3 2024.

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)