SOURCE: TGS

TGS

March 21, 2011 08:00 ET

TGS Expands Multi-Client 3D Seismic Library Offshore Indonesia

PERTH, AUSTRALIA--(Marketwire - March 21, 2011) - TGS announces a second multi-client 3D seismic survey in the Tarakan Basin, offshore Northern Indonesia. The survey, TBB11, will add over 1,820 km2 of new 3D data to the previous survey announced in December 2010. The TBB11 survey will increase coverage in this area to nearly 3,500 km2. The data is being acquired by the M/V Seisquest, with acquisition expected to complete in Q2 2011.

The TBB11 survey will be acquired over the southern part of the offshore Tarakan sub-basin, in an underexplored and poor data region. The area forms part of the extensive Tertiary age play fairway covered by the earlier TBN10 multi-client 3D seismic survey to the north. The new data will assist in improving the understanding of the complex structural and stratigraphic setting of this important oil and gas province and particularly in prospect delineation and well planning.

The TBB11 multi-client 3D survey is supported by industry funding and also supports the Indonesia government's overall objective to attract exploration and raise production levels.

Company summary 

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.

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 news release please contact:

    Kristian Johansen
    Chief Financial Officer
    Office: +47 667 69931
    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

    Rod Starr
    Managing Director, Asia Pacific
    Tel: +61 (08) 9480 0000
    Email: Email Contact