TGS Announces New Multi-Client 3D Program in Flemish Pass Basin

ASKER, NORWAY--(Marketwired - Jul 13, 2015) -  TGS announces a new multi-client 3D survey offshore Eastern Canada with plans to acquire approximately 4,300 km² of seismic data. This survey is conducted in partnership with PGS.

The Ramform Valiant, utilizing the PGS GeoStreamer® technology, will acquire data in Flemish Pass Basin over the Exploration License (EL) 1135. Data will be acquired during the summer season 2015 with final data available to clients in Q3 2016.

This project will provide valuable data in this proven, oil-prone hydrocarbon basin enabling exploration companies to image structural and stratigraphic trends.

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 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).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".

For additional information about this press release please contact: