Norwegian seismic company TGS, which provides seismic data to oil and gas exploration companies, on Friday said it had implemented organizational changes to support its strategic plan announced in February, which included an establishment of a business unit focused on energy transition opportunities.
The New Energy Solutions (NES) business unit, which has been established to pursue opportunities related to the Energy Transition, will be led by Jan Schoolmeesters, the company said.
Oil and Gas Insights, which consists of multi-client seismic and well data products, has been organized in two business units, Eastern Hemisphere (EH) and Western Hemisphere (WH).
These two Business Units, which represent a simplification of the operating model and fewer management layers, will be led by Will Ashby and David Hajovsky, respectively, TGS said.
"To further enhance the company’s focus on Environmental, Social and Governance issues (ESG), Whitney Eaton has been promoted to the Executive Management team with responsibility for ESG and compliance," TGS said.
As part of the reorganization, Rune Eng has stepped down from his role as EVP International and has assumed an advisory role until he will retire, effective 1 September 2021, TGS added.
TGS last month said that, through its New Energy Solutions ("NES") business unit, it planned to be the leading provider of data and insights directed towards industries actively contributing to the reduction of GHG emissions, such as Carbon Capture and Storage (CCS), Deep Sea Mining (DSM), geothermal energy, wind energy, and solar energy.
"Over the past few years, we have seen an increasing interest for our data and insights from other industries besides the oil and gas industry. By establishing the NES business unit, we are preparing our non-oil & gas offering for further growth," CEO Kristian Johansen said in February.
"Many of the investments required in renewable energy and CCS have long pay-back times. It is therefore critical to make well-informed and precise investment decisions. Our aim is to be the leading provider of data and insights that help de-risk investments and reduce the time-to-market. We have been helping our oil and gas customers to de-risk investment decisions for 40 years. With NES we will use our experience, global presence and core strengths to help new and existing customers with the energy transition," Johansen said.
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