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    TGS   NO0003078800

TGS ASA

(TGS)
  Report
Real-time Oslo Bors  -  10:26:06 2023-01-30 am EST
161.60 NOK   +2.28%
01/24Tgs : Announces License to Onshore 3D Seismic for Purposes of CCUS
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01/09TGS Q4 2022 Revenue Update
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TGS and PGS Expand Multi-client Coverage Offshore Brazil

12/07/2022 | 01:01am EST

OSLO, Norway (7 December 2022) – TGS, a global provider of energy data and intelligence, today announced, in partnership with PGS, that it has secured pre-funding for the Santos Sul Multi-client 3D project in the southwest Santos Basin offshore Brazil. The TGS/PGS collaboration combines the operational and technical strengths of both companies to provide high-quality multi-client data and timely delivery, which are critical to the exploration efforts in this area.

The survey will cover more than 15,000 square kilometers of both open acreage made available by ANP via the new Permanent Offer mechanism (“POR”) and the exploration blocks recently awarded in the 17th Concession bid round and 3rd Cycle of the POR.

The Ramform Tethys will mobilize for the survey in January 2023, and acquisition is scheduled to complete in August 2023.

“We are pleased to announce this joint venture with PGS, further strengthening our 3D data library and position in Brazil. The Santos Sul 3D project will be instrumental in providing invaluable data and actionable insights into new and emerging plays outside the Pre-Salt, allowing our clients to de-risk their exploration activities in the region for active and future licensing rounds,” says CEO of TGS, Kristian Johansen.

 "We experience continued exploration interest offshore Brazil where the combination of the Ramform designed vessels and GeoStreamer technology is in strong demand. The Santos Sul Multi-client survey expands PGS and TGS 3D data coverage in Brazil and will provide high quality data essential for the exploration of these newly awarded blocks. The PGS/TGS collaboration in this portion of the Santos basin also provides coverage over a wider area available through the permanent offer licensing round," says President & CEO of PGS, Rune Olav Pedersen.

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 TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices.  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

Attachment


All news about TGS ASA
01/24Tgs : Announces License to Onshore 3D Seismic for Purposes of CCUS
PU
01/11Magseis Fairfield Delists From Oslo Børs After TGS Merger
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01/09TGS Q4 2022 Revenue Update
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More news
Financials (USD)
Sales 2022 709 M - -
Net income 2022 82,6 M - -
Net cash 2022 104 M - -
P/E ratio 2022 24,2x
Yield 2022 3,42%
Capitalization 2 022 M 2 022 M -
EV / Sales 2022 2,71x
EV / Sales 2023 1,87x
Nbr of Employees 471
Free-Float 97,0%
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Technical analysis trends TGS ASA
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 16,24 $
Average target price 17,56 $
Spread / Average Target 8,09%
EPS Revisions
Managers and Directors
Kristian Kuvaas Johansen Chief Executive Officer
Sven B°rre Larsen Chief Financial Officer
Christopher Geoffrey Finlayson Chairman
Zhi Ming Li SVP-Data Processing, Research & Development
Mark Steven Leonard Independent Director
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