Norway-based seismic firms TGS and PGS have officially completed their merger, creating a ‘premier’ energy data company.
After clearing all regulatory hurdles for the merger, the most recent of which was the approval from the UK Competition and Markets Authority, TGS and PGS have launched a new chapter under the same company umbrella.
The merger of TGS and PGS forms a powerhouse in the energy sector, enhancing its capabilities to support energy exploration and production on a global scale.
The integration will enable companies to leverage a wider pool of technological resources and expertise, significantly boosting the operational efficiency, innovation and customer engagement strategies.
Completion of the merger has been registered with the Norwegian Register of Business Enterprises.
As a result, and following the issuance of the merger consideration shares to the former shareholders of PGS, the new share capital of TGS is NOK 49,068,323.25 divided on 196,273,293 shares, each …