TGS Announces Two Multi-Client 3D Seismic Surveys in Norwegian Barents Sea

ASKER, NORWAY--(Marketwire - Mar 7, 2013) -  TGS will commence the Europe 2013 acquisition season with two 3D multi-client surveys in the Norwegian Barents Sea; Finnmark Platform 2013 (FP13) covering 3,500 km² and the Hoop to Fingerdjupet 2013 (HF13) covering 8,600 km². 

Both 3D seismic surveys cover areas of complex geology and are designed to address specific customer imaging requirements. Data from both surveys will be processed utilizing TGS' proven Clari-Fi™ broadband processing technology. The HF13 survey will also tie-in TGS' successful Hoop 3D in the east.

The FP 13 survey is scheduled to commence during March 2013 and will be acquired by the M/V Geo Barents towing 8 streamers. The HF13 survey is scheduled to commence in early Q2 2013 and will be acquired by the M/V Oceanic Challenger with 12 streamers. Data processing for both surveys will be performed by TGS and initial data will be available to clients during Q3 2013.

These surveys are 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, permanent reservoir monitoring 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).

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