SOURCE: TGS-NOPEC Geophysical Company

TGS-NOPEC Geophysical Company

December 13, 2012 08:00 ET

TGS Commences 3D Multi-Client Seismic Survey Offshore Northwest Australia

PERTH, AUSTRALIA--(Marketwire - Dec 13, 2012) -  TGS has commenced acquisition of a 3D multi-client seismic survey, The Three Bears, which covers 460 km2 in the Carnarvon Basin, offshore NW Australia.

This survey is located adjacent to the Clio and Gorgon gas fields which are currently in the development stage. Upon completion of this survey, the TGS portfolio of 3D multi-client coverage will exceed 17,500 km2 in this highly prospective area offshore Australia. TGS is also reprocessing the Cazadores survey which covers 4,350 km2 of the Exmouth Plateau region.

The new seismic data is being acquired by the M/V Geo Caspian. Data processing will be performed by TGS and will be available to clients in Q2 2013.

The survey 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, 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).

Contact Information

  • For additional information about this press release please contact:

    Kristian Johansen
    Chief Financial Officer
    Cell: +47 47 60 33 34
    Email: Email Contact

    Will Ashby
    Director Investor Relations and M&A
    Office: +1 713 860 2184
    Email: Email Contact

    Paul Young
    Managing Director Asia Pacific
    Tel: 61 (8) 9480 0000
    Email: Email Contact