ASKER, NORWAY (18 September 2018) - TGS is pleased to announce its first regional offshore MSGBC SeaSeep Project in the North West Africa Atlantic Margin.
The program will cover an area of approximately 113,500 km2 and will incorporate around 230 cores from the seabed, located based on multibeam backscatter anomalies. Acquisition of the multibeam will commence early Q4 2018 with the coring and geochemistry stage to follow. Final results will be available in Q2 2019.
"The data generated from the SeaSeep technology is proving to be a complementary and valuable addition to our multi-client library. The multibeam, coring and geochemical analysis provides our customers with further insight and understanding of regional prospectivity. Following its successful implementation in the Gulf of Mexico and Brazil, we are pleased to expand the use of this technology into the emerging MSGBC basin", commented Kristian Johansen, CEO of TGS.
This project 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 principle 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
