TGS-NOPEC Geophysical Company

TGS-NOPEC Geophysical Company

September 08, 2005 11:41 ET

TGS-NOPEC Awarded Promote Licenses in 23rd UKCS Licensing Round

NAERSNES, Norway--(CCNMatthews - Sep 8, 2005) -

TGS-NOPEC Geophysical Company (TGS) announced today that it, in partnership with UK operator Granby Oil and Gas plc (Granby), has been awarded four promote licenses in the North Sea as part of the 23rd UKCS Licensing Round. TGS holds a 33.33% interest in the new licenses located in the Southern Gas Basin within the following blocks: 26/4 (part); 26/5; 26/9; 26/10 (part); 27/1 (part); 27/6 (part); 42/28c; 43/7, and 44/27b.

The promote licenses have a two-year term and allow TGS and Granby the opportunity to conduct geophysical and geological analyses based on previously acquired data in an attempt to further develop, promote and sell hydrocarbon prospects in the license areas.

TGS-NOPEC Geophysical Company (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The company also provides advanced depth imaging solutions and software through its TGS Imaging division. A2D Technologies, a wholly-owned subsidiary, is the energy industry's well log data marketplace offering the largest online database, immediate delivery, conversion services, data management services and worldwide well log data sourcing. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry.

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).


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