TGS Commences Orphan3D PSDM Phase 2 Reprocessing Offshore Newfoundland and Labrador

Oslo, Norway (22 July 2026) – TGS, a leading provider of energy data and intelligence, today announced the commencement of the Orphan3D PSDM Phase 2 reprocessing project offshore Newfoundland and Labrador, Canada. The project will upgrade approximately 13,300 km² of 3D seismic data across one of the most prospective exploration regions in the North Atlantic.

The project is designed to enhance imaging quality and subsurface understanding across the survey area, helping exploration companies more effectively evaluate opportunities within the basin. The reprocessed data will strengthen TGS’ extensive Newfoundland and Labrador data library and support ongoing industry interest in the region.

TGS will apply its latest depth imaging technologies, including advanced Full Waveform Inversion (FWI) and proprietary imaging workflows, to deliver significant improvements in image clarity, structural definition, and reservoir characterization. The enhanced products are expected to provide greater confidence in prospect evaluation and exploration planning.

The project targets key Cretaceous and Jurassic exploration intervals and is expected to improve subsurface imaging across a range of structural and stratigraphic play types. The enhanced dataset will support more detailed geological interpretation and prospect assessment.

The project further reinforces TGS’ long-standing commitment to the Newfoundland and Labrador offshore. The project builds upon TGS’ ongoing collaboration with industry and provincial stakeholders to advance geoscience understanding and showcase the exploration potential of the Newfoundland and Labrador offshore to the global energy industry. The investment reflects TGS’ continued confidence in the basin’s prospectivity and its commitment to supporting future exploration and licensing activity in the region.

Kristian Johansen, CEO of TGS, commented: "TGS remains committed to supporting exploration offshore Newfoundland and Labrador through continued investment in high-quality subsurface data. Working alongside industry and regional stakeholders, we are helping deliver the geoscience insights needed to attract investment, advance prospect evaluation, and support the region’s long-term exploration success."

Jim Keating, CEO, Oil and Gas Corporation of Newfoundland and Labrador added:
"Continued investment in geoscience data is essential to advancing understanding of the Newfoundland and Labrador offshore and maintaining the region's position as a globally competitive exploration jurisdiction. This reprocessing project will provide industry with enhanced subsurface insights in the Orphan Basinthat support prospect evaluation and informed investment decisions. We welcome TGS’ ongoing commitment to the basin and its contribution to strengthening the geoscience foundation that helps attract future exploration activity offshore Newfoundland and Labrador.”

Early products are expected to be available during 2027, with final migrated volumes scheduled for delivery in the third quarter of 2027.

The project is supported by industry funding.

For more information, visit tgs.com or, contact:

Bård Stenberg
VP IR & Business Intelligence
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.