TGS and Chevron have signed a three-year capacity agreement for marine streamer and OBN acquisition services. The minimum firm commitment under the three-year term of the capacity agreement is 18 months of a combination of OBN and streamer acquisition services. The parties plan to collaborate on seismic acquisition projects utilizing TGS streamer and OBN crews for exploration and development projects. The CA will also deepen the relationship between Chevron and TGS and drive collaboration on technology development in a wide range of geophysical areas from survey design, acquisition technology, data collection, and data integration. The previously announced St Malo 4D OBN reservoir monitoring contract in the Gulf of America, will be included in this agreement and will kick start the collaboration immediately.

Kristian Johansen, CEO of TGS, commented, “We are thrilled to announce a major milestone in our commitment to evolving the global marine seismic market: the signing of the global Capacity Agreement (CA). Chevron, a true industry explorer and long-term client, is ideal for this strategic collaboration. This agreement not only provides crucial utilization and visibility for both parties but also creates an opportunity for collaboration across our wider service portfolio. Our shared focus on new frontier areas makes us highly complementary, and we are excited to immediately begin supporting Chevron’s global exploration and reservoir management strategies”.

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.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow new businesses in renewable fuels, carbon capture and offsets, hydrogen, power generation for data centers, and emerging technologies.