SOURCE: TGS

TGS

August 04, 2016 00:59 ET

TGS and Schlumberger Announce New Dual Coil Shooting Full-Azimuth Multiclient Acquisition in U.S. Gulf of Mexico

ASKER, NORWAY--(Marketwired - Aug 4, 2016) - TGS and Schlumberger today announce commencement of the Dual Coil Shooting* multivessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon, Atwater Valley and Ewing Bank protraction areas of the Central Gulf of Mexico.

The Revolution Xll and XIII surveys will be acquired using the Schlumberger WesternGeco Q-Marine* point-receiver marine seismic system combined with the proprietary multivessel, Dual Coil Shooting acquisition technique, which will provide broadband, long-offset, full-azimuth data. This combination of leading-edge technology and technique will improve illumination and imaging of the sub-salt and other complex geologic features in this highly active region. Acquisition is expected to complete in late Q1 2017 with final processed data available in early 2018.

"TGS is excited to return to the U.S. Gulf of Mexico to continue its successful collaboration with WesternGeco. Together we have a strong track record of success in developing and delivering projects in this prolific part of the Central Gulf of Mexico. Our cooperation started in 2008 with acquisition of the Freedom WAZ survey and was followed later by the Liberty WAZ and Patriot M-WAZ surveys. The Revolution XII and XIII surveys benefit from the latest advances in seismic technology and will provide the E&P industry with critical information to support exploration and drilling activity in a region that is expected to remain a priority for our customers," commented Kristian Johansen, CEO, TGS.

These new Revolution Dual Coil Shooting full-azimuth surveys will record offsets of more than 14 km for imaging below the salt in the deepwater Gulf of Mexico. In this latest generation of Revolution surveys, autonomous marine vehicles (AMV) are being deployed. These AMVs will simultaneously acquire ultra-long offsets of more than 20 km, which benefit full waveform inversion in the accurate velocity model building over such complex subsalt areas.

"With these new techniques, we expect to see further improvements in sub-salt imaging and amplitude fidelity for reservoir characterization providing value for our customers," commented Maurice Nessim, President, WesternGeco.

This project is supported by industry funding.

About the Companies

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.

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit www.slb.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 principle 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".

*Mark of Schlumberger

Contact Information

  • For additional information about this press release please contact:

    Sven Borre Larsen
    Chief Financial Officer
    Tel: +47 90 94 36 73
    Email: sven.larsen@tgs.com

    Will Ashby
    VP Human Resources & Communication
    Tel: +1 713 860 2184
    Email: will.ashby@tgs.com

    Susan Ganz
    Public Relations Manager - Western Hemisphere
    Tel: + 1 713 939 2997
    Email: sganz1@slb.com