Partnership NAGECO & TGS

Norwegian geophysical data company TGS said it has signed a letter of intent with North Africa Geophysical Company (NAGECO), a subsidiary of Libya’s National Oil Corporation. In a Jan. 30 statement, TGS said the letter sets out a framework for future cooperation between the two parties in the field of seismic and geophysical data used in oil and gas exploration. The document is non-binding and remains subject to the negotiation of definitive agreements and the receipt of required regulatory approvals. TGS said the initiative focuses on developing exploration data intended for use by multiple oil companies operating in Libya, in order to support upstream oil and gas activities. The announcement is part of a series of recent engagements by TGS across Africa. In 2024, the group was involved in several projects related to seismic data management and provision on the continent, according to Ecofin Agency. In June of that year, Tanzanian authorities selected TGS to manage offshore seismic data, including 2D and 3D marine surveys, to support the country’s exploration efforts. The momentum continued in July, when the company signed an agreement with Mauritania’s Ministry of Petroleum, Mines, and Energy to supply and enhance geophysical data covering both onshore and offshore areas. In October 2024, Benin’s authorities also retained TGS for 3D seismic survey work aimed at identifying new offshore exploration prospects. The latest development comes as Libyan authorities said last week that they are considering launching a second licensing round, as part of initiatives introduced in recent months to support and revive the country’s oil sector.