Final hurdle cleared for PGS/TGS merger

Offshore staff

OSLO, Norway — PGS and TGS have received clearance from the UK Competition and Markets Authority concerning their planned merger.

Following clearance in April by the Norwegian Competition Authority, this represented the final regulatory approval required.

All conditions for fulfilling the merger have now been satisfied, and the two companies will pursue completion on July 1.

TGS CEO Kristian Johansen said, "We look forward to…bringing the strength and breadth of our combined service offerings to the market."

PGS President and CEO Rune Olav Pedersen added, "The combined company will provide a more complete and diversified geophysical offering to customers, more opportunities for employees and value to shareholders."

06.11.2024