This article was first published on, April 11, 2024


Kristian Johansen insists that Norwegian company's acquisition of rival PGS signals a new era for the industry

Norway’s TGS confounded many in the seismic business last September when it announced an agreed acquisition of marine seismic vessel contractor PGS, creating an enterprise with an estimated value of $2.6 billion and making it easily the biggest player in the field.

At the time of writing, the transaction was still awaiting official regulatory approval from Norwegian and UK authorities. But assuming an expected go-ahead, the deal will mark a new era in how the marine seismic market will operate in the future — and significantly, the role TGS will play in it.