OSLO, Norway (11 November 2024) - TGS, a leading provider of energy data and intelligence, is pleased to announce award of the company's first 3D streamer contract for the 2025 Northwest Europe summer season. Acquisition is scheduled to commence in May with a total duration of approximately 35 days.
Kristian Johansen, CEO of TGS, commented, "We are very pleased to secure our first streamer contract job for the 2025 summer season. Award of this program underscores our strong position in Northwest Europe. We are experiencing higher bidding activity for this region compared to recent years, and while most of our streamer acquisition programs in Northwest Europe were multi-client in 2024, this trend will likely be reversed in 2025 with an overweight of contract work. The planned activity increase in the Northwest Europe region mirrors the global demand increase we experience for our services scheduled for first half 2025. We look forward to supporting our client's exploration efforts with our proven GeoStreamer technology and Ramform acquisition platform."
For more information, visit TGS.com or contact:
Bård Stenberg
IR & Communication
Mobile: +47 992 45 235
investor@tgs.com
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.
