ASKER, NORWAY (22 May 2012) - TGS has commenced acquisition of a 3D multi-client survey covering 4,000 km2 in the Northern North Sea near the southern Moere Basin.
This survey, EOTW12, builds on the previously announced Erlend Basin multi-client 3D survey and ties with TGS' existing multi-client 3D database in the Northern North Sea (End of the World). Upon completion, EOTW12 will form part of a 13,000 km2 contiguous 3D volume in this region. The survey will de-risk multiple play types spanning Cretaceous to Triassic age reservoirs and is adjacent to a current exploration well targeting the Albert prospect.
The seismic data is being acquired by the M/V Polarcus Amani and M/V Polarcus Adira and will be completed Q3 2012. Data processing will be performed by TGS and be available to clients Q2 2013.
The survey is supported by industry funding.
Company summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS' geophysical and geological data products include multi-client seismic libraries, permanent reservoir monitoring, magnetic and gravity data, the industry's largest global database of digital well logs and regional interpretive products. TGS also provides high-end depth imaging services to help resolve complex seismic imaging problems. For more information visit TGS online at www.tgs.com (http://www.tgs.com/).
Forward-looking statements and contact information
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).
For additional information about this press release please contact:
Kristian Johansen
Chief Financial Officer
Office: +47 66 76 99 00
Cell: +47 47 60 33 34
Email: kristian.johansen@tgs.com (mailto:kristian.johansen@tgs.com)
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Email: karen.el-tawil@tgs.com (mailto:karen.el-tawil@tgs.com)
Kjell E. Trommestad
VP Project Development Europe/Russia, Africa/Middle East
Office: +47 66 76 99 00
Cell: +47 91 77 29 92
Email: kjell.trommestad@tgs.com (mailto:kjell.trommestad@tgs.com)
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: TGS via Thomson Reuters ONE
