Perth, Australia (06 September 2024) - TGS, a leading global provider of energy data and intelligence, has commenced the acquisition of a 2D seismic survey in the Sumatra basin, Indonesia. The survey, conducted using COSL's HYSY 718 vessel, is expected to comprise between 5,500- and 6,500-line kilometers, covering two regions.
This initiative marks a continuation of TGS's commitment to supporting exploration efforts in Indonesia. Earlier this year, TGS announced the completion of a multi-client 2D reprocessing project in the same basin which aims to integrate key discoveries with available open acreage, complementing TGS's existing extensive 2D and 3D seismic datasets in the region.
Kristian Johansen, CEO at TGS, stated, "North Sumatra has been the site of major discoveries in the past few years. With this being our sixth consecutive acquisition project offshore Indonesia, TGS remains dedicated to advancing exploration in the region. Our high-quality seismic data continues to shed light on crucial play concepts, extending exploration potential into open acreage and unlocking exciting opportunities within the Sumatra basin."
The seismic acquisition is expected to be completed by the end of Q4 2024.
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).
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.comor contact:
Bård Stenberg
IR & Communication
Mobile: +47 992 45 235
investor@tgs.com
