Busy period for TGS as it inks software license deal with Shell and two new contracts

Following the merger with compatriot PGS, Norwegian seismic company TGS is looking at a busy period ahead with two new contracts, one in Europe and one in North America, for offshore data acquisition.

TGS secured a 45-day ultra-high resolution 3D (UHR3D) acquisition contract in Europe for an offshore wind project, which will see the Ramform Vanguard mobilize for the survey in the third quarter of the year.

According to the company, the project will offer substantially more detailed subsurface data for shallower targets compared to traditional seismic acquisition methods. TGS will also handle the imaging and interpretation of the collected data including UHR3D and Auxiliary measurements.

“Our geophysical approach to map and understand the shallow subsurface layers with a UHR3D system is significantly more efficient than conventional site survey solutions, and energy companies value the shorter lead time for accessing high-quality data,” said Kristian Johansen, CEO of TGS.

“The offshore wind site characterization market is growing, and this project demonstrates the vital role that data and subsurface characterization play in our clients’ decision-making process for offshore wind projects. We remain excited about the growth opportunities for New Energy in the new TGS.”

In another statement, the Norwegian firm announced it had won a six-month-plus ocean bottom node (OBN) data acquisition contract in North America with a major returning client. The project is expected to enhance the client’s seismic data acquisition capabilities, facilitating more informed decision-making.

TGS has also signed a global four-year agreement with Shell Information Technology International to license its TGS Imaging AnyWare software suite. Through the agreement, Shell will migrate from its current in-house software to TGS’ fully integrated enterprise-class imaging system.

“We selected TGS Imaging AnyWare software due to its robust performance and so we can enrich this technology with Shell capabilities,” said Liz Sturman, VP Petroleum Engineering at Shell.

“Joint collaboration opportunities have already been identified between Shell and TGS to continuously improve Imaging AnyWare software performance while at the same time reducing project turnaround time and cost.”

To remind, TGS and PGS formally completed their merger earlier this month, following the final regulatory approval. TGS noted that the integration would enable it to leverage a wider pool of technological resources and expertise, significantly boosting its operational efficiency, innovation and customer engagement strategies. More information on the vision for the new company will be presented at Capital Markets Day on August 29.