TGS ASA

TGS Announces New Onshore Multi-Client Program in the Midland Basin

OSLO, Norway (20 February 2023) - TGS, a global provider of energy data and

intelligence, today announced Pontiac 3D, a new onshore seismic program in the

Midland Basin. This project will encompass ~167 square miles in Ector, Midland,

Crane, and Upton counties, Texas.

Pontiac 3D sits on the western edge of the Midland Basin and encompasses

historical production from Sprayberry and Wolfcamp intervals, along with

significant accumulations in deep seated structures in the Devonian and

Ellenburger formations. The survey is designed to assist in the evaluation and

horizontal development of multiple zones, including the emerging the Barnett

Shale, Mississippi Lime, and Devonian horizons, which are highly prospective,

with analogous play concepts having been proven just north of Pontiac in Andrews

County. Data acquisition is expected to begin in Q3 2023 with final data

available to clients in early Q2 2024. TGS' extensive geologic products database

complements Pontiac 3D, which includes interpretive products and data from over

~250,000 wells in the Midland Basin.

Kristian Johansen, CEO at TGS, commented, "We are pleased to add the Pontiac 3D

survey to our expanding Permian Basin library. We continue to leverage our

knowledge and expertise to aid our clients in their exploration and development

activities in the Midland Basin. The data will be processed by TGS utilizing its

modern land imaging technology, including TGS' Dynamic Matching Full Wave

Inversion, to provide clients with greater reservoir understanding."

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

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