OSLO, Norway (28 October 2021) – Further to the announcement on 15 December 2020, TGS, CGG and PGS, industry leaders of multi-client geoscience data, today announce Versal – a unified seismic data ecosystem giving access to three of the world’s largest multi-client libraries via a single log-in.
Versal is an independent, secure, cloud-based, multi-client seismic data ecosystem where clients can easily access all their data and entitlements in one place. As a result, E&P teams can now capitalize on their interpretation and analysis workflows for their subsurface projects by leveraging a seamless licensed data experience that takes minutes rather than days, enabling maximum efficiency and opportunity generation.
Kristian Johansen, CEO at TGS, said: "This landmark collaboration with CGG and PGS provides a foundation for our clients to universally view, access and build innovative subsurface workflows at the click of a button. Versal’s ability to improve decision-making with less uncertainty, underpins its initiative to provide the best customer service to our clients and future clients. I look forward to Versal’s evolution to increase data richness for users.”
Sophie Zurquiyah, CEO, CGG, said: “Versal is unique in streamlining industry access to more than 70% of the seismic multi-client market through a vendor-neutral, cloud-based common ecosystem. We are pleased to work together with TGS and PGS to bring this needed service to the market and offer client teams an easier and more efficient way to access the data they need to identify new opportunities and optimize field performance.”
Rune Olav Pedersen, President and CEO of PGS said: “We believe that energy companies’ workflows will be transformed with Versal, enabling them to achieve their goals through rapid access to secure cloud-based multi-client seismic data and entitlements. Versal has created an environment that will benefit both the consumers of seismic data and the data providers over the longer term. We are proud and excited by the launch of this successful industry-wide digitalization initiative.”
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 TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. 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 contact:
Sven Børre Larsen
Chief Financial Officer
+47 90 94 36 73
investor@tgs.com
For media relations contact:
Jaclyn Townsend
Director, Corporate Marketing
jaclyn.townsend@tgs.com