SOURCE: TGS

TGS

August 02, 2011 08:00 ET

New TGS Multi-Client 3D Survey in the Faroe-Shetland Basin

ASKER, NORWAY--(Marketwire - Aug 2, 2011) - TGS has commenced a new multi-client 3D survey in the Faroe-Shetland Basin. The survey covers 2,500 km2 west of the British Isles over quads 6004, 204 and 205 and is acquired in partnership with PGS.

The new seismic data is being acquired by the PGS Ramform Viking towing 12 X 6,000 m with 75 m separation and utilizes PGS' GeoStreamer® Technology. Data acquisition will continue through Q3 2011 and the vessel will return in 2012 to complete the survey. Data processing will be performed by both TGS and PGS. "This is TGS' first investment in a 3D multi-client seismic program west of the British Isles, located in an area with a number of discoveries and further undiscovered hydrocarbon potential," stated Kjell Trommestad, SVP Europe & Russia for TGS.

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.tgsnopec.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).

Contact Information

  • For additional information about this press release please contact:

    Kristian Johansen
    Chief Financial Officer
    Office: +47 667 69931
    Cell: +47 47 60 33 34
    Email: Email Contact

    Karen El-Tawil
    VP, Business Development
    Office: +1 713 860 2102
    Cell: +1 713 806 2420
    Email: Email Contact

    Kjell E. Trommestad
    Senior VP Europe & Russia
    Tel: +47 66 76 99 61
    Email: Email Contact