TGS and SLB Announce Engagement III in the U.S. Gulf of Mexico

OSLO, Norway (28 February 2023) – TGS, a global provider of energy data and intelligence, in collaboration with SLB, today announced the Engagement III ultra-long offset ocean-bottom node (OBN) acquisition in Green Canyon, U.S. Gulf of Mexico.

The 111 OCS block survey is underway, and acquisition is expected to be complete in April 2023. Following the success of previous projects, imaging uplifts will be delivered through the application of full-waveform inversion (FWI) velocity model building utilizing the ultra-long offsets—imaging to be carried out by SLB with final results expected in mid-2024. Engagement III is the fifth multi-client ultra-long offset OBN acquisition in the Gulf of Mexico and extends the data coverage south from prior phases.

Kristian Johansen, CEO at TGS, commented: “TGS and SLB continue to lead the advancements of ultra-long offset OBN acquisition in the U.S. Gulf of Mexico, providing the industry with access to marked improvements in image quality in this geologically complex basin.”

The project is supported by industry funding.

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, visit TGS.com or contact:

Sven Børre Larsen
Chief Financial Officer
investor@tgs.com

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