The companies said in an April 17 press release that they continue to expect the merger to close during second-quarter 2024. (Source: Shutterstock/ TGS/ PGS)
Energy data companies PGS and TGS have received competition clearance from Norwegian regulators related to their merger into a full-service energy data company.
The deal is still under review by the U.K. Competition Market Authority with a deadline of June 11 to announce clearance or further review for the deal.
The companies said in an April 17 press release that they continue to expect the merger to close during second-quarter 2024.
The transaction will establish the combined company as a full-service geophysical data company with offerings in streamer data acquisition, ocean bottom node data acquisition, imaging and new energy data, the companies said when the merger was announced in September.
The transaction is expected to help mitigate supply chain risks and add further to economies of scale and efficiency.
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