Presentation

TGS is a global geoscience company that provides seismic data and geological products to E&P companies. The company was established in 1998 following the merger of Houston-based TGS and Norwegian NOPEC. In May 2019, TGS announced that the acquisition of Spectrum, cementing their position as a leading multi-client seismic data provider. TGS has been listed on the Oslo Stock Exchange since 1997. The company has its corporate headquarter in Oslo, Norway, and its operational headquarter in Houston, Texas.

TGS is an asset-light multi-client company and outsources all data acquisition. As such, the company does not own any vessels nor equipment, which allows for more flexibility. TGS plans and develops surveys based on industry interest and future sales potential, and charters in third-party vessels and crews to acquire the data.
TGS has built a comprehensive multiclient library comprising ∼ 1,040m sqkm of 3D data and ∼ 5,550m km of 2D data, as of year-end 2020. The library covers the historical strongholds in US GoM and the North Sea, as well as increased exposure to the South Atlantic Margin and frontier basins following the acquisition of Spectrum in 2019. In addition, TGS offers a large collection of digital well logs, as well as processing and imaging services.

In addition to TGS’ core business within E&P, the company aims to position itself for the energy transition. TGS’ data is already in use for carbon storage assessment, and they are introducing a new CCS pathfinder portal. In May 2021, TGS acquired 4C Offshore, a market intelligence and consultancy firm, offering data, analytics, and services for offshore wind. With the acquisition, TGS aims to become the leading provider of energy data across the energy value chain.