TGS Q3 2025 Operational Update
TGS Q3 2025 Operational Update
OSLO, Norway (8 October 2025) - TGS ASA ("TGS"), a leading global provider of
energy data and intelligence, routinely publishes a quarterly operational update
six working days after quarter-end.
The table below shows TGS' normalized Ocean Bottom Node (OBN) crew count¹:
+---------------------------------------+---------+---------+
| | Q3 2025 | Q3 2024 |
+---------------------------------------+---------+---------+
| Normalized crew count Contract(1) | 1.8 | 3.8 |
+---------------------------------------+---------+---------+
| Normalized crew count Multi-client(1) | 1.0 | 0.0 |
+---------------------------------------+---------+---------+
(1) The table shows the average number of crews in operation when assuming a
normalized crew size. )
The table below shows TGS' allocation of active seismic streamer 3D vessel
capacity(2):
+-------------------+---------+---------+
| | Q3 2025 | Q3 2024 |
+-------------------+---------+---------+
| Contract | 45% | 20% |
+-------------------+---------+---------+
| Multi-client | 28% | 57% |
+-------------------+---------+---------+
| Steaming | 10% | 6% |
+-------------------+---------+---------+
| Yard | 8% | 2% |
+-------------------+---------+---------+
| Stacked/Standby | 9% | 15% |
+-------------------+---------+---------+
| Number of vessels | 6 | 6 |
+-------------------+---------+---------+
(2) The statistics include only active seismic 3D streamer vessels (capacity
working on New Energy Solutions projects are excluded). )
Based on preliminary financial review TGS expects multi-client investment to be
approximately USD 86 million in Q3 2025, compared to USD 129.4 million in Q3
Kristian Johansen, CEO of TGS commented: "Asset utilization in Q3 exceeded
expectations, with a normalized OBN crew count of 2.8 and streamer vessel
utilization at 73%, compared to our previous indications of approximately 2.5
and 65%, respectively. The stronger performance was mainly driven by optimized
vessel scheduling as well as securing more streamer and OBN work than expected."
TGS will release its Q3 2025 results at 07:00 a.m. CEST on 23 October 2025. CEO
Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00
a.m. CEST, webcasted live.
The webcast can be followed live via this link:
https://channel.royalcast.com/landingpage/hegnarmedia/20251023_4/
For more information, visit TGS.com (http://www.tgs.com) or contact:
Bård Stenberg, VP IR & Business Intelligence
Tel.: +47 992 45 235
E-mail: [email protected]
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.