New setup for TGS with energy transition focus

Oslo-listed seismic player TGS has appointed Jan Schoolmeesters as head of New Energy Solutions (NES) business unit, established to pursue opportunities related to the energy transition.

In February this year, TGS launched New Energy Solutions (NES).

In a statement back then, the company said it aims to establish itself as the leading provider of data and insights directed towards industries actively contributing to the reduction of greenhouse gas emissions, such as carbon capture and storage (CCS), deep sea mining, geothermal energy, wind energy and solar energy.

Schoolmeesters joined TGS with the acquisition of Spectrum where he was the COO since 2011. Prior to Spectrum he gained experience in the seismic industry having served 16 years in various roles in PGS with a technical, operational, and commercial background.

On 11 February, TGS hosted a Capital Markets Day where the company presented its future strategic priorities.

The company has also implemented further organisational changes to support its strategic plan.

Oil and Gas Insights, which consists of multi-client seismic and well data products, has been organised in two business units, Eastern Hemisphere (EH) and Western Hemisphere (WH). These two business units, which represent a simplification of the operating model and fewer management layers, will be led by Will Ashby and David Hajovsky, respectively.

To further enhance the company’s focus on environmental, social and governance issues (ESG), TGS has promoted Whitney Eaton to the executive management team with responsibility for ESG and compliance.

Finally, as part of the reorganisation, Rune Eng has stepped down from his role as EVP International and has assumed an advisory role until he will retire, effective 1 September 2021.

To remind, TGS reported net loss of $205 million for 2020, on revenues of $319 million compared with net profit of $319 million in 2019 and revenues of some $585 million.