SOURCE: TGS

TGS

September 26, 2011 08:00 ET

TGS Announces Expansion of 2D Multi-Client Seismic Data in Eastern Indonesia

HOUSTON, TX--(Marketwire - Sep 26, 2011) - TGS has commenced a 2D multi-client seismic survey in offshore Eastern Indonesia immediately north of the Sunrise-Troubadour gas fields and to the west of the Abadi gas field. The 1,500 km survey, MHI11, will infill a seismic survey previously acquired in 2007 and an extensive multibeam data set in the area.

The previously acquired seismic data in the area has revealed a series of undrilled fault blocks and horsts from the Permian up to the Base Tertiary levels. This project will provide a final detailed grid of data and assist with evaluating the Sahul Platform and Timor Trough area where data indicates an active petroleum system.

TGS maintains the industry's largest multi-client data library in Indonesia. Upon completion of the MHI11 survey, the library will include 120,000 km of 2D seismic, 3,500 km2 of 3D seismic, 400,000 km of multibeam bathymetric data and 1,200 core samples covering over one million km2 of Indonesia's deep water basins.

The seismic data is being acquired by the M/V Aquila Explorer. Data processing will be performed by TGS and available to clients in Q4 2011.

The survey is supported by industry funding and also supports the Indonesian Governments overall objective to attract exploration.

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