OSLO, Norway (20 November 2024) - TGS, a leading provider of energy data and intelligence, is pleased to announce award of a significant 3D streamer contract for ONGC in the Mahanadi basin on the East Coast of India. The Ramform Sovereign is scheduled to mobilize for the survey in January 2025 and the contract has a duration of approximately six months.
India is a hotspot for streamer seismic and ocean bottom node work and the contract award strengthens TGS' position in the area, underscoring the company's ongoing commitment to providing the highest quality data solutions to clients.
Kristian Johansen, CEO of TGS, commented, "We are very pleased to secure this contract with ONGC, which provides visibility for the Ramform Sovereign for the first half 2025. We look forward to supporting them with high-quality seismic data using our Ramform acquisition platform and GeoStreamer technology. The contract represents another key milestone in our ongoing efforts to lead the way in acquiring and delivering high-quality data globally."
For more information, visit TGS.comor 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).
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.
