TGS Secures 3D Streamer and OBN Contracts for 2025 in India and Europe
Norway-based energy data and intelligence company TGS has announced new contracts for 2025. They secured a 3D streamer contract in India and an ocean bottom node (OBN) contract in Europe. Both projects will start at the beginning of the year.
TGS will work with India’s government-owned Oil & Natural Gas Corporation (ONGC) in the Mahanadi basin on the East Coast. The seismic acquisition vessel Ramform Sovereign will begin operations in January 2025. This contract will last for about six months.
Kristian Johansen, CEO of TGS, expressed satisfaction in securing the ONGC contract. He noted that it gives operational visibility for the Ramform Sovereign during the first half of 2025. He emphasized TGS’s commitment to providing high-quality seismic data using their advanced Ramform acquisition platform and GeoStreamer technology.
What impact do the new contracts in India and Europe have on TGS’s growth strategy for 2025?
Exclusive Interview with Kristian Johansen, CEO of TGS: Insights on New Contracts for 2025
News Directory 3: Kristian, thank you for taking the time to speak with us today. TGS recently announced two significant contracts for 2025 – one in India and another in Europe. Can you elaborate on the strategic importance of these contracts for TGS?
Kristian Johansen: Thank you for having me. Securing the 3D streamer contract with ONGC in India is a landmark achievement for TGS. The Mahanadi basin is rich in potential, and this contract not only enhances our operational visibility for the first half of 2025 but also strengthens our relationship with a key player in the region. Similarly, the OBN contract in Europe allows us to continue building upon our established partnerships, demonstrating our expertise and reliability in delivering high-quality seismic data.
News Directory 3: The seismic acquisition vessel, Ramform Sovereign, will be operating in India starting January 2025. How does this advanced vessel contribute to your operations?
Kristian Johansen: The Ramform Sovereign is a cornerstone of our acquisition capabilities. Its design allows for efficient data collection over large areas, and when combined with our GeoStreamer technology, it significantly enhances the quality of the seismic data we can deliver. We are proud to use such advanced equipment to meet and exceed our client’s expectations.
News Directory 3: You mentioned that this contract with ONGC will last about six months. What are the challenges and opportunities you anticipate during this period?
Kristian Johansen: The timeline of six months presents us with both challenges and opportunities. Logistically, the coordination of crews and equipment is critical, especially in a new environment like the Mahanadi basin. However, the opportunity lies in our ability to demonstrate our capabilities and reliability. Successfully navigating this project could pave the way for future contracts in the region and build TGS’s reputation further.
News Directory 3: Turning to Europe, you mentioned an uptick in bidding activity. What factors do you believe are driving this increase?
Kristian Johansen: We’ve observed heightened interest in seismic data acquisition driven by growing energy demands and exploration needs. Companies are seeking robust data to make informed decisions, and TGS is positioned to meet those needs effectively. Moreover, with our recent award of a 3D streamer contract for the summer of 2025, we are seeing a confident resurgence in exploration activities in Northwest Europe.
News Directory 3: what message do you want to convey to stakeholders regarding TGS’s future projects?
Kristian Johansen: I want our stakeholders to understand that TGS remains committed to excellence and innovation. Our recent contracts are a testament to our strategic approach, advanced technology, and strong relationships. We are excited about the future and confident in our ability to deliver unparalleled value in our upcoming projects.
News Directory 3: Thank you, Kristian, for sharing your insights with us today. We look forward to seeing TGS’s continued growth and success in 2025 and beyond.
In Europe, TGS has received an OBN contract from a repeat customer. The acquisition team is set to start work in early April 2025. This contract will be carried out over approximately 35 days.
Johansen highlighted increased bidding activity in Northwest Europe compared to previous years. This follows TGS’s recent award of their first 3D streamer contract for the 2025 summer season.