Major Contracts Awarded to TGS for 4D Streamer Campaign
TGS, a leading provider of energy data and intelligence, has exciting news to share regarding its latest venture in offshore operations. The company has successfully secured contracts for four 4D streamer acquisition projects, marking a significant step forward in their commitment to provide high-quality energy data. These projects are set in two important regions: three contracts will take place in the North Sea, while one is designated for the Barents Sea.
Details of the Campaign Schedule
The 4D campaign in the North Sea is slated to kick off in the early part of the second quarter. This operation is expected to span approximately 130 days, featuring back-to-back scheduling that highlights TGS's efficiency and expertise in managing extensive projects. In addition, the 4D contract in the Barents Sea will commence later, specifically aimed at the summer season, with a projected duration of around 50 days.
CEO Comments on Increased Demand for Contracts
Reflecting on these developments, Kristian Johansen, the CEO of TGS, expressed his enthusiasm about securing these significant 4D streamer contracts. He noted, "We are very pleased to secure a series of 4D streamer contracts offshore Norway for the summer season. Our GeoStreamer technology, complemented by the Ramform acquisition platform, guarantees an efficient delivery of high-quality data." Johansen emphasized that there is a notable rise in demand for contract work on the Norwegian Continental Shelf this year compared to the previous year.
Investment in Advanced Technology
With the implementation of advanced technologies like the GeoStreamer, TGS is poised to meet the increasing needs of the energy sector. The company has invested in ensuring that their operations are not just efficient but also capable of delivering precise insights that clients require for effective decision-making in their exploration and production endeavors.
Multiple Vessels Engaged in Operations
As part of this ambitious initiative, TGS will deploy three streamer vessels to the Norwegian continental shelf during the summer season. This strategic move reflects TGS's commitment to enhance its operational capabilities and meet the rising demands from its clients in the energy sector.
About TGS and Its Market Position
TGS stands at the forefront of the energy data and intelligence sector. With a portfolio that extends across the entire energy value chain, TGS offers a wide range of insights that assist companies in making informed decisions. Their cutting-edge technologies and extensive, diverse energy data library solidify TGS's reputation as a trusted partner for businesses engaged in energy exploration and production globally.
Contact Information
For further inquiries or detailed information, interested parties can contact Bård Stenberg, VP of IR & Communication. He can be reached at +47 992 45 235. For any investor-related questions, you may also reach out via email at investor@tgs.com.
Frequently Asked Questions
What are the main locations for TGS's new 4D streamer contracts?
The main locations for TGS's new 4D streamer contracts include the North Sea and the Barents Sea.
What is the expected duration of the North Sea campaign?
The expected duration of the North Sea campaign is approximately 130 days, starting in early Q2.
How many streamer vessels will TGS deploy this summer?
TGS plans to deploy three streamer vessels to the Norwegian continental shelf this summer.
Who is the CEO of TGS, and what did he say about the contracts?
The CEO of TGS is Kristian Johansen, who expressed pleasure in securing the contracts and highlighted the increased demand for work in the Norwegian Continental Shelf.
Why is TGS considered a trusted partner in the energy sector?
TGS is considered a trusted partner due to its advanced technology, comprehensive data offerings, and commitment to facilitating effective decision-making for energy exploration and production.
