January 26, 2010 08:00 ET

New TGS 3D Project in Liberia

ASKER, NORWAY--(Marketwire - January 26, 2010) - TGS has commenced acquisition of the next phase of 3D projects offshore Liberia. This newest project covers Liberia blocks 8 and 9 and totals 5,000 kms(2). The MV Polarcus Nadia will acquire the project and TGS will apply advanced pre-stack time and pre-stack depth imaging techniques to create the final subsurface image.

The TGS African data library includes a series of 2D and 3D seismic projects covering the Africa Transform Margin. Recent petroleum discoveries in the Gulf of Guinea and offshore Sierra Leone have attracted significant exploration interest in this region. Upon completion of this latest project, TGS will have more than 30,000 kms of 2D and 18,000 kms(2) 3D seismic covering this emerging exploration play in West Africa.

The acquisition of the survey will complete in Q2 2010 and is heavily prefunded.

TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and services to the oil and gas industry for the exploration and delineation of hydrocarbon reserves. We design and acquire multi-client data projects worldwide that make up our data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging technology and regional interpretation expertise. Visit TGS online at

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).

Contact Information

  • For additional information about this news release please contact:

    Karen El-Tawil
    VP, Business Development
    Tel: +1 713 860 2102
    Email: Email Contact

    Arne Helland
    Chief Financial Officer
    Tel: +47 66 76 99 31/+47 91 88 78 29
    Email: Email Contact

    Kim Abdallah
    VP, New Ventures, Africa and Middle East
    Tel: +1 713-860-2120
    Email: Email Contact