SOURCE: TGS

TGS

April 30, 2012 09:00 ET

TGS Commences Multi-Client 3D Survey in Norwegian Barents Sea

ASKER, NORWAY--(Marketwire - Apr 30, 2012) - TGS has commenced acquisition of a 3D multi-client survey covering 2,400 km2 in the Norwegian Barents Sea.

The survey, Finnmark Platform 2012 (FP12), covers five blocks in the Southwestern Barents Sea of which four are located in quad 7017 and one is in quad 7018. All blocks are proposed by the Ministry of Petroleum and Energy to be included in the 22nd Licensing Round on the Norwegian Continental Shelf. Fast track data will be available in time to perform interpretation for the 22nd Licensing Round.

The M/V Polar Duchess towing 10 x 6,000 m streamer with 75 m separation is acquiring the survey. Data processing will be performed by TGS and available to clients Q3 2012.

The survey is supported by industry funding.

Company summary

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS' geophysical and geological data products include multi-client seismic libraries, permanent reservoir monitoring, magnetic and gravity data, the industry's largest global database of digital well logs and regional interpretive products. TGS also provides high-end depth imaging services to help resolve complex seismic imaging problems. 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
    Cell: +1 713 806 2420
    Email: Email Contact

    Stein Ove Isaksen
    Senior VP Eastern Hemisphere
    Tel: +1 713 860 2111
    Email: Email Contact