TGS Set to Elevate Gulf of Mexico Operations with Pending Award of Multi-Year Ocean Bottom Node Projects

OSLO, Norway (30 August 2023) - TGS, the leading global provider of energy data and intelligence, today reported a pending award for multiple proprietary Ocean Bottom Node (OBN) projects in the Gulf of Mexico (GoM). The projects will be acquired over a 3-year duration. The negotiations and scope will be finalized during Q3 2023, with the initial project targeted to mobilize in late Q1 2024.

Kristian Johansen, CEO at TGS, commented: “This progress and endeavour towards confirming a long-term commitment from a major producer in the Gulf of Mexico and strategic customer reflects our unwavering commitment to innovation and excellence and highlights our ability to adapt to evolving industry needs worldwide. Through our continued focus, service quality and commitment to operating safely and sustainably, we will continue to support the industry to maximise the potential of existing developments.”

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 or contact:

Sven Børre Larsen
Chief Financial Officer
[e-mail]