SOURCE: TGS

TGS

July 05, 2011 12:54 ET

TGS Announces a New 3D Multi-Client Survey in Northern North Sea

ASKER, NORWAY--(Marketwire - Jul 5, 2011) - TGS will commence the acquisition of a new 3D multi-client survey which covers 1,100 km2 over the Magnus Basin, including the southwest to northeast striking "End of the World" fault. TGS will also reprocess approximately 6,500 km2 of 3D seismic data in the same area to build a combined project of 7,600 km2.

The new seismic data will be acquired by M/V Geo Pacific towing 8 x 6,000 m streamers and be completed in Q3 2011. Data processing from the new acquisition and reprocessing will be performed by TGS and available to clients from late Q1 2012. The survey is supported by industry funding.

Company summary
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 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

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