SOURCE: TGS-NOPEC Geophysical Company

TGS-NOPEC Geophysical Company

September 19, 2011 08:00 ET

TGS Announces New Multi-Client 2D Seismic Survey in Namibia

HOUSTON, TX--(Marketwire - Sep 19, 2011) - TGS has commenced a new 15,000 km multi-client 2D seismic survey offshore Namibia.

TGS considers this region to have significant exploration potential and is pleased to acquire new data that both complements and extends TGS' existing seismic coverage in the area. The survey grid covers open acreage and images the main prospective plays due for drilling in 2011/2012.

Offshore Namibia is significantly underexplored and has the potential to hold large oil and gas discoveries. The positive mix of play types in the TGS survey area include basin floor turbidites, slope fans and channels, significant syn-rift structures and plays similar to those offshore Angola. Recent studies have also shown additional strong hydrocarbon indicators in significant structures.

The seismic data is being acquired by the M/V Northern Explorer. Data processing will be performed by TGS and data will be available to clients Q1 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

    Rod Starr
    Senior VP Africa, Middle East and Asia Pacific
    Office: +1 713 860 2100
    Email: Email Contact