TGS Signs LOA for Proprietary Node Survey in North Sea

Written by TGS | 30 June 2023

OSLO, Norway (30 June 2023) – TGS, a leading global provider of energy data and intelligence, today announced that it signed a Letter of Authority (LOA) to conduct a proprietary Ocean Bottom Node (OBN) survey in the North Sea. The survey is planned to mobilize in Q3 2023 with a project duration of 1-2 months.

Kristian Johansen, CEO at TGS, commented: “We are pleased to announce this proprietary OBN contract in the North Sea. This endeavor reflects our unwavering commitment to innovation and excellence and highlights our ability to adapt to evolving industry needs worldwide. Through investment in cutting-edge technologies, and harnessing our geoscience expertise, we empower our clients to discover new assets and 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, contact:

Sven Børre Larsen
Chief Financial Officer
investor@tgs.com

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