Norway’s TGS has secured an extension of a contract offshore Norway, as well as a new contract with a repeat customer in the Gulf of Mexico.
TGS secured a four-year extension to a proprietary reservoir monitoring and source acquisition contract in Norway, with a further option to extend by another two years.
According to TGS, by delivering real-time information on reservoir behavior, energy stakeholders are empowered to make informed decisions, optimize resource utilization and promote sustainable energy practices.
Kristian Johansen , CEO at TGS, said: “This project highlights the value and performance we have delivered over the years, which has now triggered this long-term extension. Long-term contracts like this turn our relationships with our clients into a partnership, where we work together collaboratively to acquire data for better reservoir development and management decisions.”
The Norwegian company has also been awarded a three-month proprietary ocean bottom node (OBN) data acquisition contract in the Gulf of Mexico for a repeat customer.
Project acquisition will start in Q4 2023 and is expected to be completed during Q1 2024.
TGS recently announced it would pool resources with Apparition Geoservices to fully commercialize the latter’s technology in OBN, towed streamer, and XHR data acquisition programs.