SOURCE: TGS

TGS

December 03, 2014 08:00 ET

TGS to Expand Coverage of 3D Electromagnetic Data Over the Barents Sea

ASKER, NORWAY--(Marketwired - Dec 3, 2014) - TGS and Electromagnetic Geoservices ASA (EMGS) have agreed to further expand the Companies' previous cooperation agreement in the Barents Sea. TGS will partner with EMGS to acquire electromagnetic (EM) data over approximately ten new blocks in the Nordkapp and Tiddly areas.

The new 3D EM data will be acquired by the M/V Atlantic Guardian. Data will be available to clients through both EMGS and TGS. 

"TGS and EMGS are once again pleased to expand their cooperation in the Barents Sea," commented Stein Ove Isaksen, Senior VP Eastern Hemisphere for TGS. "As the 23rd Norwegian licensing round approaches, it is imperative for clients to have high quality, integrated EM and seismic data available."

The survey is supported by industry funding.

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, permanent reservoir monitoring 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
    Chief Financial Officer
    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

    Stein Ove Isaksen
    Senior VP Eastern Hemisphere
    Tel: +47 66 76 99 00
    Email: SteinOve.Isaksen@tgs.com