TGS Expands Exploration Efforts in Brazil with Launch of PAMA 3D Phase 1 Survey

OSLO, Norway (19 August 2024) – TGS, a leading provider of energy data and intelligence, is pleased to announce the commencement of the PAMA 3D Phase 1 Survey in the Equatorial Margin of Brazil. This survey covers an extensive area of 19,343 square kilometers and more than 25 future exploration blocks within the Pará-Maranhão Basin, one of the world's largest major unexplored and highly prospective basins.

The PAMA 3D Phase 1 Survey expands TGS’ data coverage in this promising region, building on previous 3D surveys covering more than 60,000 square kilometers. The Equatorial Margin has drawn industry attention due to nearby prolific successes in neighboring Guyana and Suriname, sparking new initiatives in northern Brazil. These efforts target reservoir quality sands within deepwater fan systems, sourced from Amazon River-related drainage, in a diverse range of plays, from stratigraphic pinch-outs at the paleo-slope edge to anticline structures within the fold-and-thrust belt extending along the margin.

Kristian Johansen, CEO at TGS, commented: “The Equatorial Margin represents one of the most exciting exploration frontiers today. With the PAMA 3D Phase 1 survey, TGS continues to provide the industry with vital data to explore and realize the potential of this underexplored region. This survey demonstrates TGS’ strength through the value chain. In addition to developing and owning the survey, we will use our own high-end streamer vessels to acquire the data, as well as our own imaging capacity. Finally, the data will be delivered to customers through the TGS data management solution.”

This new 3D seismic dataset will address imaging challenges in the region's complex geology, providing valuable insights for future exploration efforts.

The survey is supported by industry funding and reinforces TGS' commitment to delivering top-tier data to the energy sector.

For more information about TGS and its ongoing projects, visit www.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.

For more information, visit TGS.com or contact:

Bård Stenberg
IR & Communication
investor@tgs.com