SOURCE: TGS

TGS

August 22, 2012 08:00 ET

TGS Commences Multi-Client 3D Survey in Faroe Shetland Basin

ASKER, NORWAY--(Marketwire - Aug 22, 2012) - TGS has commenced acquisition of a 3D multi-client survey covering 1,520 km2 in Quads 208 and 217 of the Faroe Shetland Basin on the UK Continental Shelf, West of Shetlands.

The Erlend West 2012 (EW12) survey is the industry's first 3D survey in this northern area and covers the western most margin of the Erlend Basin. The project builds on the improved imaging shown within the reprocessed TGS North Sea Renaissance 2D data. The EW12 3D survey covers both held acreage and open blocks, and expands on TGS' 3D coverage in this developing petroleum province.

The seismic data is being acquired by the M/V Polar Duchess. A fast track data volume will be available for delivery and licensing during Q1 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
    Office: +47 66 76 99 00
    Cell: +47 47 60 33 34
    Email: Email Contact

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

    Stein Ove Isaksen
    Senior VP Eastern Hemisphere
    Office: +47 66 76 99 00
    Email: Email Contact