ASKER, NORWAY (13 September 2018) - TGS is pleased to announce Jaan, a fully harmonized 3D multi-client project in the southern portion of the MSGBC Basin from northern Senegal, through The Gambia and the AGC zone, into Guinea-Bissau down to the Guinea transform fault. This project will consist of 11,135 km² of new acquisition complemented by the reprocessing and full pre-stack merging of existing multi-client 3D. The new data will be acquired using modern triple source broadband acquisition. Once complete, the final depth migrated volume will be over 28,300 km² and will completely capture the prospective paleo-shelf edge trend from the shallow to the deep.
This investment is being undertaken by TGS as operator and majority investor together with PGS and GeoPartners. Data will be acquired using the BGP Prospector seismic vessel and acquisition will commence early Q4 2018. Data processing will be performed by TGS using its Clari-Fi broadband technology.
"The Jaan project will further cement TGS' position as the leading provider of seismic data in this rapidly emerging basin. This further expansion in the MSGBC basin confirms TGS' continued commitment to the Northwest Africa Atlantic Margin data, where TGS already has over 50,000 km of 2D data and over 17,000 km² of 3D data," commented Kristian Johansen, CEO, TGS.
This survey is supported by industry funding.
Company Summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.
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).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".
For additional information about this press release please contact:
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen@tgs.com (mailto:sven.larsen@tgs.com)
Will Ashby
SVP Investor Relations, HR & Communication
Tel: +1 713 860 2184
Email: will.ashby@tgs.com (mailto:will.ashby@tgs.com)
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via Globenewswire
