SOURCE: TGS

TGS

May 27, 2015 08:00 ET

TGS Names New CFO

ASKER, NORWAY--(Marketwired - May 27, 2015) - TGS is pleased to announce the appointment of Sven Børre Larsen as the Company's new Chief Financial Officer. The effective date of Mr. Larsen's employment is yet to be determined, but will be no later than December 1, 2015. Mr. Larsen will be based in TGS' Asker office.

Most recently, Mr. Larsen was the Chief Financial Officer of Prosafe Management AS in Norway, the world's leading owner and operator of accommodation support vessels for the offshore oil and gas industry. Mr. Larsen also has extensive experience as a Financial Analyst in a broad range of industries including the oil services sector. A native of Norway, Mr. Larsen earned his undergraduate and master's degrees at the University of Tromsø and the Bodø Graduate School of Business.

Mr. Larsen replaces Kristian Johansen as CFO. Mr. Johansen's promotion to COO of TGS was announced in December of 2014. Mr Johansen will continue to also serve as interim CFO until Mr. Larsen's date of employment.

In announcing the appointment, Robert Hobbs, Chief Executive Officer of TGS, commented, "I am pleased to have Sven join our executive team. He brings a wealth of knowledge as a proven CFO of a successful oil and gas services organization and I look forward to his contribution to TGS' continued success."

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, 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".

Contact Information

  • For additional information about this press release please contact:

    Kristian Johansen
    COO/Interim CFO
    Cell: +47 47 60 33 34
    Email: kristian.johansen@tgs.com

    Will Ashby
    Director Finance Western Hemisphere & Investor Relations
    Tel: +1 713 860 2184
    Email: will.ashby@tgs.com