TGS and GTI Sign Four-Year Strategic Cooperation Agreement for Seismic Acquisition

en.Wedoany.com Reported - Dimension News, August 14 – Norwegian energy data group TGS and U.S. seismic technology company Geophysical Technology Inc. (GTI) announced the signing of a four-year strategic cooperation agreement, under which the two parties will jointly bid for seismic acquisition projects worldwide, covering shallow water, transition zone, and deepwater areas.

Under the agreement, the two parties will evaluate and bid on projects on a case-by-case basis, integrating complementary assets, technologies, and operational expertise to deliver integrated seismic acquisition solutions across a variety of offshore environments. TGS will provide deepwater acquisition capabilities, including deepwater vessel fleets, ocean bottom node (OBN) assets, global supply chain networks, project management experience, and financial strength. GTI will contribute its proprietary NuSeis® nodal recording technology and manufacturing base, dedicated vessels and recording equipment, as well as extensive experience in land, transition zone, and shallow water operations, with business coverage across key markets including the Americas, the Middle East, and Africa.

Carel Hooijkaas, Executive Vice President of Marine Data Acquisition at TGS, stated that GTI's shallow water and transition zone capabilities are highly complementary to TGS's deepwater strengths. Richard Degner, President and CEO of GTI, stated that the combined entity can undertake integrated projects that neither company could deliver efficiently on its own.

The agreement does not disclose contract value, minimum work commitments, or specific projects.