The merger between Norway-headquartered PGS and TGS has received its final regulatory approval from the UK Competition and Markets Authority (CMA), having previously been approved by the Norwegian Competition Authority and their respective shareholders. Announced in September 2023, the merger seeks to create a robust full-service energy data company, offering an extensive range of geophysical services, including multi-client data, streamer data acquisition, and ocean bottom node data acquisition. With all conditions now satisfied, completion is expected by July 1, 2024. Leadership roles at the combined entity will be held by Kristian Johansen and Sven Brre Larsen as CEO and CFO, respectively. The merger is anticipated to benefit stakeholders, employees, and shareholders alike, while also providing growth opportunities in new energy sectors such as carbon capture and storage, and offshore wind.

Energy Sector, Geophysical Services, Mergers and Acquisitions,Norway, United Kingdom