SOURCE: TGS

TGS

February 16, 2012 08:00 ET

TGS Announces a Third 3D Multi-Client Seismic Survey Offshore Northwest Australia

PERTH, AUSTRALIA--(Marketwire - Feb 16, 2012) - TGS has commenced acquisition of a 3D multi-client seismic survey in the Outer Exmouth Plateau area. The new survey, Gnaraloo, covers 2,093 km2 over parts of blocks WA-347-P, WA-348-P and neighbouring open acreage to the north of the Mary Rose Northeast 3D multi-client survey, previously announced in December 2011. The Gnaraloo survey ties in with existing modern 3D coverage in the area. Upon completion of the Gnaraloo survey, the TGS portfolio of 3D multi-client coverage in this highly prospective area offshore Australia will exceed 14,000 km2.

The seismic data is being acquired by the M/V Geo Atlantic and is expected to complete during early Q2 2012 with final data available in Q4 2012. 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

    Paul Young
    Managing Director Asia Pacific
    Office: +61 (8) 9480 0000
    Email: Email Contact