SOURCE: TGS

TGS

November 23, 2015 01:50 ET

TGS Announces Broadband Reprocessing of 2D Seismic Covering the Entire Offshore Portuguese Shelf

ASKER, NORWAY--(Marketwired - Nov 23, 2015) - TGS is pleased to announce the broadband reprocessing of 22,847 km 2D seismic offshore Portugal. This project, which utilizes TGS' broadband solution Clari-Fi™, is now fully underway.

"Recent successes in the conjugate offshore Newfoundland and Nova Scotia provinces of Canada have heightened expectations for similar petroleum systems offshore Portugal. TGS' reprocessing program is expected to provide critical geoscience information to E&P companies as they move to the next phase of exploration along this portion of the Atlantic Margin," commented Stein Ove Isaksen, Senior VP Eastern Hemisphere.

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.

Forward-looking statements
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".

Contact Information

  • For additional information about this press release please contact:

    Sven Borre Larsen
    Chief Financial Officer
    Tel: +47 90 94 36 73
    Email: sven.larsen@tgs.com

    Will Ashby
    Director Finance Western Hemisphere & Investor Relations
    Tel: +1 713 860 2184
    Email: will.ashby@tgs.com