TGS Commences Multi-Client 2D Survey in Northeast Greenland

ASKER, NORWAY--(Marketwired - Aug 19, 2013) -  TGS has commenced expansion of a 2D multi-client survey in Northeast Greenland. 

The survey, NEG13, will enable customers to prepare for the announced Greenland Licensing Round in 2013/2014. Due to favorable ice conditions, TGS expects to acquire 4,200 km of 2D multi-client seismic data. This new data will provide companies with dense data coverage over the licensing area and will be a significant addition to TGS' already robust data library in the area. 

The seismic data is being acquired by the M/V Akademik Shatskiy supported by the ice breaker M/V Viking Balder. A helicopter is being utilized for ice density monitoring. Data processing will be performed by TGS and data will be available to clients in Q1 2014.

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).

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