TGS Announces Pelotas Sul Phase 1 Multi-client Survey Offshore Brazil
2026-06-18 07:00:00
OSLO, Norway (18 June 2026) - TGS, a global provider of energy data and intelligence, in joint venture¹ with SLB, announce the Pelotas Sul Phase 1 multi-client 3D seismic survey in the Pelotas Basin offshore southern Brazil. The survey covers approximately 13,500 square kilometers. The Ramform Tethys mobilized for the survey in December 2025, with data acquisition expected to be completed in early Q3 2026. The project marks a significant step in expanding TGS' high?quality seismic coverage across one of Brazil's most promising frontier regions. The Pelotas Basin has seen growing interest in recent years, supported by extensive geologic analogs, including successful exploration results along the conjugate margin. The area features a diverse range of play concepts, including turbidite systems, deep?water channels, and stratigraphic and structural traps that remain underexplored. Pelotas Sul Phase 1 includes a balanced mix of held and open acreage, providing opportunities for both near?term evaluation and additional sales related to future licensing rounds. Kristian Johansen, CEO of TGS, commented: "Pelotas Sul Phase 1 will provide valuable subsurface insight and help broaden the understanding of a basin that is gaining considerable client attention. We have earlier announced Pelotas Norte, in the Northern part of the Pelotas Basin. We are very pleased to announce Pelotas Sul and support our customers as they evaluate new exploration opportunities in the southern part of the Pelotas Basin." (¹For certain multi-client library projects, TGS invests in the project with other parties and has cooperation agreements whereby revenues and costs will be shared. TGS recognizes the contribution from the partner as contract revenues in the multi-client segment. For Q2 2026 the contract revenues from joint arrangements are expected to be approximately in line with the Q1 2026 level, when USD 32.5 million was recorded as contract revenues in the multi-client segment.) For more information, visit TGS.com or contact: Bård Stenberg VP IR & Business Intelligence Mobile: +47 992 45 235 investor@tgs.com 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 (https://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.