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Energy data giants combine to create premier energy data company

4C Offshore | Mark Casey
By: Mark Casey 18/09/2023 TGS
TGS

Milestone merger with TGS and PGS to merge in $865 million deal. The two Oslo-listed companies said the new entity will be stronger and more diversified, focusing on technology and innovation.

The combined company, valued at over $2.6Bn, will offer data and insight across the energy industries, including multi-client subsurface data and acquisition, carbon storage solutions and a comprehensive suite of wind data and intelligence.

“We are excited to announce a merger with PGS, completing a major milestone of building a fully integrated and robust global energy data provider. Our clients will benefit from scale, a unique technology portfolio and premier service quality. Bringing together two distinct, yet complementary, companies positions us even better for a continued upcycle in the energy sector", stated Kristian Johansen, Chief Executive Officer of
TGS.

"The merger creates a full-service geophysical company with a strong balance sheet. Financial flexibility enables investments in attractive core activities as well as in the rapidly growing new energy business. The pioneering innovation cultures in both companies will contribute to a strong foundation for new product offerings and profitable growth” stated Walther Qvam, Chair of the Board of PGS


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