SOURCE: TGS

TGS

January 06, 2010 08:00 ET

TGS Begins the Justice Wide Azimuth Project

ASKER, NORWAY--(Marketwire - January 6, 2010) - Seismic acquisition has now been initiated on the Justice Wide Azimuth (WAZ) 3D project in the Gulf of Mexico. The Justice project is a northeast expansion of the existing and contiguous Freedom and Liberty WAZ projects. The survey adds more than 7,800 km^2 of WAZ coverage to the TGS portfolio and covers portions of the hydrocarbon rich areas of Mississippi Canyon, Viosca Knoll, and De Soto Canyon.

Acquisition will continue throughout the first half of 2010 and upon completion of Justice, TGS will have more than 27,000 km^2 of WAZ 3D in its data library. These wide azimuth projects provide the industry with modern seismic imaging covering the most productive oil producing area of the deepwater Gulf of Mexico.

TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and services to the oil and gas industry for the exploration and delineation of hydrocarbon reserves. We design and acquire multi-client data projects worldwide that make up our data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging technology and regional interpretation expertise. Visit TGS online at www.tgsnopec.com.

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 news release please contact:

    Karen El-Tawil
    VP, Business Development
    Tel: +1 713 860 2102
    Email: Email Contact

    Stein Ove Isaksen
    VP, North and South America
    Tel: +1 713 860 2111
    Email: Email Contact

    Arne Helland
    Chief Financial Officer
    Tel: +47 66 76 99 31/+47 91 88 78 29
    Email: Email Contact