TGS, a leading global provider of energy data and intelligence, routinely publishes a quarterly operational update six working days after quarter-end.
The table below shows TGS’ normalized Ocean Bottom Node (OBN) crew count¹:
|
|
Q4 2025 |
Q4 2024 |
|
Normalized crew count Contract1 |
0.7 |
3.5 |
|
Normalized crew count Multi-client(1) |
1.0 |
0.0 |
1) The table shows the average number of crews in operation when assuming a normalized crew size.
The table below shows TGS’ allocation of active seismic streamer 3D vessel capacity(2). In Q4 2025 Ramform Victory was used as a source vessel in West Africa and is still included in the vessel statistics.
|
|
Q4 2025 |
Q4 2024 |
|
Contract |
31% |
35% |
|
Multi-client |
48% |
31% |
|
Steaming |
15% |
6% |
|
Yard |
5% |
6% |
|
Stacked/Standby |
1% |
22% |
|
Number of vessels |
6 |
6 |
2) The statistics include active seismic 3D streamer vessels (capacity working on New Energy Solutions projects are excluded).
Based on preliminary financial review TGS expects multi-client investment to be close to USD 120 million in Q4 2025, compared to USD 100.4 million in Q4 2024.
Kristian Johansen, CEO of TGS commented: 'Our seismic vessel utilization reached 79% in Q4, up from 73% in the previous quarter. I am pleased that we have established an attractive portfolio of multi-client projects offshore Brazil focusing on the equatorial margin and the Pelotas basin, with strong client support. Early in Q4 we deployed our third Ramform Titan-class vessel for multi-client work offshore Brazil, and we expect to maintain half of our streamer fleet in the region well into 2026. We enter 2026 with strong market position, a leaner cost base, and a robust balance sheet, having reduced net interest-bearing debt to approximately USD 430 million.'
Source: TGS
