TGS ASA

Regulatory Filings • Sep 4, 2025

TGS and Viridien Announce Megabar Extension Phase I Multi-client Project Offshore Brazil

TGS and Viridien Announce Megabar Extension Phase I Multi-client Project Offshore Brazil

OSLO, Norway (4 September 2025) - TGS, a global leader in energy data and

intelligence, in collaboration with joint venture partner Viridien, an advanced

technology, digital and earth data company, today announced the commencement of

the Megabar Extension Phase I survey in the Barreirinhas Basin offshore Northern

Brazil. The 5,300 sq km multi-client 3D seismic survey will be acquired by TGS

and imaged by Viridien and builds on Viridien's Megabar survey coverage.

The Barreirinhas Basin features proven petroleum systems and giant discoveries

in adjacent Guyana and Suriname basins that demonstrate analogous deepwater play

components. Recent licensing activity by IOCs along the equatorial margin,

coupled with the success of Brazil's 5(th) Cycle Permanent Concession Offer,

supports growing momentum for the region.

Megabar Extension Phase I will be acquired in a promising area with proven

geological potential but no existing 3D data. TGS will deploy the purpose-built

streamer vessel Ramform Tethys, equipped with its proprietary GeoStreamer(®)

technology for high-quality 3D data acquisition. Acquisition is scheduled to

commence in early September and conclude by late November.

Imaging of the Megabar Extension survey will be conducted by Viridien's

Subsurface Imaging experts, leveraging their high-end proprietary Time-Lag Full-

Waveform Inversion (TL-FWI) and Reverse Time Migration (RTM) imaging

technologies to provide enhanced geological understanding. This will help to

reveal new play potential, improve prospect evaluation and de-risk exploration.

Initial imaging products are expected by Q3 2026, and final data expected to be

available in Q1 2027.

Kristian Johansen, CEO of TGS, commented: "TGS remains committed to support the

energy industry with high quality data for exploration activities in Brazil's

equatorial margin basins. Geology in these basins share characteristics with

discoveries in Guyana and Suriname, and Megabar Extension Phase I will represent

a significant step forward in understanding geology in the Barreirinhas Basin.

By applying our cutting-edge 3D data acquisition capabilities, we are confident

the project will generate strong interest and deliver substantial value to our

clients' exploration programs."

Sophie Zurquiyah, CEO of Viridien, commented: "We are pleased to commence this

new Megabar Extension survey as part of our long-term commitment to unlocking

high-potential frontier areas for new exploration opportunities in Brazil.

Megabar Extension will give our clients an unmatched early-mover advantage in a

strategic area of the underexplored Barreirinhas Basin in one of South America's

most promising exploration plays. With exclusive access to the first ultramodern

3D seismic data set in this area, explorers will be able to identify

opportunities faster, make more confident decisions, and position themselves

ahead of the competition for upcoming bid rounds."

The project is supported by industry funding.

For more information, visit TGS.com (http://www.tgs.com) or contact:

Bård Stenberg

VP IR & Communication

Mobile: +47 992 45 235

investor@tgs.com (mailto:investor@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.