The contract for TGS’ first 3D streamer acquisition for Northwest Europe’s summer season will begin in May 2025. (Source: Shutterstock)
Energy data provider TGS announced the award of its first 3D streamer contract for the 2025 Northwest Europe summer season on Nov. 11.
The client will be using TGS’ GeoStreamer technology and Ramform acquisition platform.
The contract award underscores an increase in global demand, TGS CEO Kristian Johansen said in the press release. And, TGS has experienced higher bidding activity in the area compared to recent years, Johansen said.
“We are experiencing higher bidding activity for this region compared to recent years, and while most of our streamer acquisition programs in Northwest Europe were multi-client in 2024, this trend will likely be reversed in 2025 with an overweight of contract work,” Johansen said. “The planned activity increase in the Northwest Europe region mirrors the global demand increase we experience for our services scheduled for first-half 2025.”
The acquisition will begin in May 2025 with a total duration of approximately 35 days.
Recommended Reading
Money Talks: Volatility Sharpens the Focus at Tailwater E&P
2025-06-23 - Market volatility will create opportunities to engage with operators on both upstream and midstream growth, says Tailwater E&P CEO Doug Prieto.
Money Talks: BOK Financial on Bid-Ask Spread Challenges to M&A
2025-05-08 - Commodity price volatility is making it difficult to close the bid-ask spread between buyers and sellers, BOK Financial’s Cristina Stellar tells Hart Energy.
Family Offices Deploy Long-Term Capital to Oil, Gas
2025-07-02 - Family offices are stepping up with capital to fill in a large—but narrowing—investment gap between private equity’s pre-COVID days and now, said Stephens Managing Director Brad Nelson at Hart Energy's Energy Capital Conference.
Money Talks: Texas Capital Bank on How to Deploy Capital Amid Shrinkage
2025-04-22 - In an uncertain macro environment, caution is necessary in deploying capital, says Marc Graham, managing director and head of energy at Texas Capital Bank.
Money Talks: Juniper Capital Carves Own Momentum Amid Volatility
2025-06-16 - Private equity firms with longtime loyalty to the oil and gas industry are raising funds that are steadily adding to their coffers, accumulating billions of dollars’ worth of dry powder.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.